Bertelsmann Music Group
Sony BMG Music Entertainment began as the result of a 50–50 joint venture between Sony Music (part of Sony) and Bertelsmann Music Group (part of Bertelsmann) completed on March 4, 2004. It is one of the Big Four music companies and includes ownership and distribution of recording labels such as Arista Records, Columbia Records, Epic Records, J Records, Mchenry Records, Jive Records, RCA Victor Records, RCA Records, Legacy Recordings, Sonic Wave America and others. The merger affected all Sony Music and Bertelsmann Music Group companies worldwide except for Japan, where it was felt that it would reduce competition in that country's music industry significantly.