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Record club sale mulledJune 13, 2001 Posted: 1040 GMT NEW YORK (CNNfn) -- AOL Time Warner Inc. and Sony Corp. are again trying to sell their jointly owned Columbia House music club to Bertelsmann AG, parent of the club's main rival, BMG Direct, a published report said Wednesday. The effort, the latest of several attempts to sell the unit to Germany's Bertelsmann in the last 18 months, could result in a $500 million-$600 million deal that would combine the No. 1 and No. 2 U.S. music clubs, the Wall Street Journal reported. However, getting government antitrust regulators to approve the deal could pose a roadblock, the paper said. One possible deal being discussed calls for Bertelsmann to pay cash for about 80 percent of Columbia House. AOL would likely retain about a 20 percent interest in the company to ensure Bertelsmann a steady supply of music and video, the paper reported, citing people familiar with the situation. Shares of AOL Time Warner (AOL: Research, Estimates), parent of CNNfn, ended up 31 cents at $52.10 Tuesday. Sony's (SNE: Research, Estimates) American depositary receipts fell $1.96 to 72.30. Note: Search results will open in a new browser window
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