Sony Corporation is joining with BMG Entertainment, Inc. to bid for Parlophone Records Ltd. and other labels of EMI Records Limited put up for sale by Universal Music Group, Inc., Financial Times (FT) said. Universal is being forced to divest Parlophone to satisfy regulators' concerns regarding its $1.9 billion acquisition of the recorded music business of EMI. Sony and BMG will make a joint bid for Parlophone and other assets, FT said.

Sony and BMG plan to split the assets and will not form another joint venture, it added. Sony refused to comment and BMG could not be immediately reached for comment by Reuters. Other bidders include Warner Music Group Corp.

and Macandrews & Forbes Media Group, Inc., FT said.