Report: Sony BMG Planning To Double Restructuring Charges This Year

Peter Kafka | May 15, 2008 1:29 PM

clive davis.jpgYesterday we noted that Sony BMG plans on spending significant money on restructuring costs, but wouldn't spell out what they were planning. Today the NY Post offers a forecast:

While Sony didn't specify how big they'd be, sources familiar with the situation said Sony BMG's restructuring charges are expected to almost double this year to $140 million, up from $73 million last year.

Representatives for Sony and Sony BMG declined comment.

Those charges will closely mirror the amount of restructuring costs Sony BMG incurred in fiscal 2006, but will come in below the $186 million in charges it recorded in 2005.

The post also quotes insiders at the JV who predict that will layoffs, but they won't be drastic, and that much of the restructuring will happen on the BMG side. Which makes us think that our gut instinct was correct: Clive Davis is going to get a very nice send-off.

See Also: Sony BMG: Mediocre Q4, Unpleasant Forecast

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5 Comments

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dont feel sorry for clive.some he always end up making more money than the labels he heads and the artists he signs.DONT HATE THE PLAYER.HATE THE GAME.
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640-802 Report: Sony BMG Planning To Double Restructuring Charges This Year Took you long enough. Scrooge! What a scrooge! He didn't even buy presents for them on Christmas.

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