Friday 07 November 2003 Sony Music and Bertelsmann to merge  | Two of the world's largest music recording companies are about to become even bigger. Sony of Japan and the German group Bertelsmann have agreed to merge their music operations.
This report from Mark Gregory:
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 Listen to the story The two companies have struck a deal in principle to create a combined group that will rival Universal Music, the world's largest recording label, in size. The new group will account for a quarter of legitmate recording sales around the world.
The big recording labels are in a mood to join forces to combat the explosion of music piracy, which has slashed their revenues and profits. Increasingly music fans download their tracks for free over the internet. And, in parts of Asia bootleg CDs account for 90 percent or more of all music sold.
The deal between Sony and BMG is described for the moment as non-binding, with the details to be finalised within a few weeks.
Mark Gregory, BBC Listen to the words struck a deal made an agreement in principle without agreeing details rival compete with account for represent legitimate recording sales sales of legally produced tapes and CDs join forces become stronger by uniting music piracy illegal copying and selling of tapes and CDs slashed dramatically reduced bootleg CDs illegally copied CDs non-binding if an agreement is non-binding, the people or organisations involved can still change their minds  Read more about this story | |  | | | SEARCH IN LEARNING ENGLISH | | | |
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