[originaltext] Sony and Bertelsmann AG have agreed to combine their music un

Sony and Bertelsmann AG have agreed to combine their music units. It’s a deal that puts famous singers, like Britney Spears and Beyonce under the same label in a combination first announced on November 6. Now the agreement has been finalized. The only step left here: relevant regulators have to give their final approval. The new combined music company, known as Sony BMG, will be based in New York City. It comes as the music industry faces continual challenges for the fourth straight year, such as the falling music sales. The London-based market-research company Informa Group says it looked for another decline in recorded music sales to the tune of 8.9 percent. That means that the contracting music industry could have less than $28 billion in sales when all is said and done.
1 What’s the last step to set up Sony BMG formally?
2 What do we learn about Sony BMG from the news report?