a5748343.htm
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D. C. 20549
FORM
6-K
REPORT OF
FOREIGN PRIVATE ISSUER
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
For the
month of August 2008
Commission
File Number: 001-06439
SONY
CORPORATION
(Translation
of registrant's name into English)
1-7-1
KONAN, MINATO-KU, TOKYO, 108-0075, JAPAN
(Address
of principal executive offices)
The
registrant files annual reports under cover of Form 20-F.
Indicate
by check mark whether the registrant files or will file annual reports
under
cover of Form 20-F or Form 40-F,
Indicate
by check mark whether
the registrant by furnishing the information
contained in
this Form
is also thereby furnishing the information to the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934,
Yes No
X
If "Yes"
is marked, indicate below the file number assigned to the registrant in
connection
with Rule 12g3-2(b):82-______
SIGNATURE
Pursuant to
the requirements of the Securities Exchange Act
of 1934, the registrant has
duly caused this report to be signed on
its behalf by the undersigned,
thereunto duly authorized.
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SONY
CORPORATION
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(Registrant)
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By: /s/ Nobuyuki
Oneda
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(Signature)
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Nobuyuki
Oneda
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Executive
Vice President and
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Chief
Financial Officer
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Date: August
05, 2008
List of
materials
Documents
attached hereto:
i)
Reportable
Event
ii) Press
release announcing Sony to Purchase Bertelsmann’s 50% Stake in Sony
BMG
Reportable
Event
Sony
Corporation (“Sony”) and Bertelsmann AG (“Bertelsmann”) today issued the
attached press release concerning Sony’s purchase of Bertelsmann’s 50% stake in
SONY BMG MUSIC ENTERTAINMENT (“SONY BMG”).
The
transaction will be structured as follows: First, a portion of
Bertelsmann’s interest in SONY BMG will be redeemed for approximately $600
million of cash by SONY BMG (SONY BMG has not been consolidated by Sony and will
not be consolidated until after this transaction closes). Sony’s U.S.
wholly-owned subsidiary, Sony Corporation of America, will then purchase the
remaining interest from Bertelsmann for approximately $600 million. As a result,
Bertelsmann will receive approximately $900mm in value for its 50% stake plus
$300mm of its share of cash on Sony BMG's balance sheet. Sony views
this as approximately $600mm net cash cost as it does not consolidate Sony BMG’s
cash.
In
addition, Bertelsmann will be taking over a limited amount of selected European
music catalog assets from SONY BMG. These catalogs represented
approximately $20 million (less than 1%) of SONY BMG’s revenues in calendar year
2007. The parties have also agreed to continue to share the company’s
manufacturing and distribution requirements between Sony’s manufacturing
subsidiary, Sony DADC, and Bertelsmann’s services company, Arvato Digital
Services GmbH (“Arvato”), by extending agreements with Arvato for additional
terms of up to six years.
The
closing of the transaction is subject to a number of conditions, including
approvals of regulatory authorities in certain jurisdictions.
Sony
to Purchase Bertelsmann’s 50% Stake in Sony BMG
Music
Company to Become Wholly Owned Subsidiary of Sony Corporation of
America
New York,
August 5, 2008 - The international media and entertainment companies Sony
Corporation and Bertelsmann AG today announced that Sony has agreed to acquire
Bertelsmann’s 50% stake in Sony BMG. The music company, to be called
Sony Music Entertainment Inc. (SMEI), will become a wholly owned subsidiary of
Sony Corporation of America. Sony and Bertelsmann AG originally
created the Sony BMG joint venture in August 2004.
“Music has
been a vital and vibrant part of Sony’s culture for over twenty
years. This acquisition will allow us to achieve a deeper and more
robust integration between the wide-ranging global assets of the music company
and Sony’s products, operating companies and affiliates. It enables
us to offer a total entertainment experience to consumers,” said Sir Howard
Stringer, Chairman and CEO, Sony Corporation. “Over the past four
years, Sony BMG has undertaken a very successful restructuring, streamlined
operations and developed innovative digital partnerships that ensure it will
continue to be a leader in the creation and distribution of music
worldwide. It is an organization rich in talent, ideas and
enthusiasm, and is a strong fit with our overall business
strategy.”
“After a
careful and thorough review, we made the strategic decision to sell our
investment in this joint venture to Sony, a step that we believe will benefit
the stakeholders of both our companies,” stated Hartmut Ostrowski, Chairman and
CEO of Bertelsmann AG. “This move is consistent with our new growth
strategy and will enable us to focus on our defined growth areas. Sony has
been an excellent partner, and they are the right company to take this business
to the next step and ensure that it realizes its full value and
potential. We look forward to witnessing Sony Music Entertainment’s
exciting future under Sony’s ownership.”
Once the
transaction is completed, SMEI will be comprised of premier music labels such
as: Arista Records, Columbia Records, Epic Records, J Records, Jive
Records, RCA Records, and Zomba. Key recording artists will include
Celine Dion, Alicia Keys, Yo-Yo Ma, Bruce Springsteen, Justin Timberlake, Usher
and Jay Chou.
As part of
the transaction, the parties have also agreed to continue to share the company’s
manufacturing and distribution requirements between Sony’s manufacturing
subsidiary, Sony DADC, and Bertelsmann’s services company, Arvato Digital
Services GmbH (“Arvato”), by extending the agreements with Arvato for additional
terms of up to six years. In addition, Bertelsmann will be taking
over selected European music catalog assets from Sony BMG.
Consummation
of the transaction remains subject to a number of conditions, including
approvals of regulatory authorities in certain jurisdictions.
About
Sony Corporation
Sony
Corporation is a leading manufacturer of audio, video, game, communications, key
device and information technology products for the consumer and professional
markets. With its music, pictures, computer entertainment and on-line
businesses, Sony is uniquely positioned to be the leading electronics and
entertainment company in the world. Sony recorded consolidated annual
sales of approximately $88 billion for the fiscal year ended March 31,
2008. Sony Global Web Site: http://www.sony.net/
About
Bertelsmann AG
Bertelsmann
is an international media company encompassing television (RTL Group), book
publishing (Random House), magazine publishing (Gruner + Jahr), music (BMG),
media services (Arvato), and media clubs (Direct Group) in more than 50
countries. Bertelsmann’s claim is to inspire people around the world with
first-class media and communications offerings – entertainment, information and
services – and occupy leading positions in its respective markets. The
foundation of Bertelsmann's success is a corporate culture based on partnership,
entrepreneurial spirit, creativity, and corporate responsibility. The company
strives to bring creative new ideas to market and create value.
Press
Contacts:
Sony/New York:
Lisa
Gephardt
212/833-6826
Lisa_gephardt@sonyusa.com
Mack
Araki
212/833-6821
Mack_araki@sonyusa.com
Bertelsmann
AG
Andreas
Grafemeyer
Senior
Vice President Media Relations
Phone: +49
– 5241 / 80 24 66
andreas.grafemeyer@bertelsmann.de
Tobias
Riepe
Vice
President Media Relations
Phone: +49
– 5241 / 80 77 69
tobias.riepe@bertelsmann.de
Bertelsmann
AG/New York
Kelly
Sullivan
Senior
Managing Director
JFWBK
Phone: +1
– 212 / 895 – 86 59
ksullivan@joelefrank.com
Bertelsmann
AG/UK
Angus
Maitland
Executive
Chairman
Maitland
Tel.: +44
- 20 / 73 79 51 51
amaitland@maitland.co.uk