BMG is an international group of music companies focused on the management of music publishing, recording rights and music distribution. The company operates as a wholly owned subsidiary of the international media conglomerate Bertelsmann, its name being the legacy of the former BMG, which was sold to Sony Music Entertainment in 2008. The company was established in 2008 as a joint venture between Bertelsmann and the global private equity firm KKR. A sequential acquisition programme of music catalogues (e.g. the Hal David, Mute or Sanctuary catalogues), music publishers (e.g. Cherry Lane, Chrysalis or Bug Music) and record labels (e.g. Infectious Records Vagrant Records or Rise Records) coupled with an important number of international signings has made BMG the world's fourth biggest music rights company in terms of revenue.