The document summarizes the three major record labels that dominate the music industry: Sony BMG, Universal Music Group, and Warner Music Group. Sony BMG was formed through the merger of Sony Music and BMG Music and holds a 25% market share, while facing anti-trust issues during its formation. Universal Music Group is owned by Vivendi and has a large portfolio of subsidiary labels. Warner Music Group started as the music division of a film studio and owns powerful publishing companies like Warner Chappell Music.