Modi in talks for Sony BMG stake

In yet another move to strengthen his association with the Sony Group, Spice Chairman B K Modi is in talks to buy stake in Sony BMG, the group's music subsidiary.

Sony BMG, which is a 50:50 joint venture between Sony Music and German music company Bertelsmann Music Group (BMG), was formed in 2004 to jointly distribute the music label worldwide, except Japan. The joint venture agreement is set to expire next year and BMG is believed to be looking at exiting the venture.