BMG Direct has completed its previously announced acquisition of The Columbia House Co. (Direct Newsline, May 10, 2005)
Terms of the transaction were not disclosed. The Blackstone Group, a private investment and advisory firm, assisted in the deal.
New York-based BMG Direct is comprised of BMG Music Service and online music retailer CDNow, and is a unit of DirectGroup Bertelsmann. The company also operates four different specialty clubs — the BMG Classical Music Club, the BMG Jazz Club, Sound & Spirit (Christian and Gospel music), and Ritmo y Pasion (Latin music).
Columbia House is a direct marketer of music, videos and DVDs, and has approximately 8 million customers in the U.S. and Canada.
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