German media giant Bertelsmann AG said today (July 4) that it has finalized its ($5.7 billion) buyback of Groupe Bruxelles Lambert's 25.1% stake.

German media giant Bertelsmann AG said today (July 4) that it has finalized its ($5.7 billion) buyback of Groupe Bruxelles Lambert's 25.1% stake.

Bertelsmann, co-partner in the Sony BMG joint-venture, agreed to the buyback in May in order to remain a private group.

Bertelsmann is financing the purchase with the auction of BMG Music Publishing and a bridge loan provided by several banks to be repaid over the next 12-18 months.