Zomba Sells Out To Bertelsmann

Zomba, the parent company of Jive Records, said that it had exercised an option to sell the remainder of the music group to Bertelsmann (BMG) in a deal the German media group said in its recent annual report would be worth around $3 billion. Amongst the artists signed under Zomba are Britney Spears, *NSYNC, Backstreet Boys, Michael Bolton, and Mystikal.