Multinational company Bertelsmann is reportedly in advanced talks to buy out partner KKR's share of their joint publishing company BMG Rights. The New York Post reports that the two sides have been in discussions for almost a year about a sale. KKR owns 51 percent of BMG Rights, while Bertelsmann owns the remaining 49 percent.

Sources tell the Post that a deal is "imminent" but could still fall through, as the partners have yet to agree on a price tag. "They are very close to something with KKR, and the relationship is amicable," a source told the paper. "They will exit at a good multiple."

KKR has been a partner in BMG since 2009 and the Post notes that the private equity firm typically looks to exit from its investments after four or five years. Bertelsmann could also turn around and bring in another partner on BMG Rights, with Samsung a reported possibility.

Sources also told the Post that BMG is in the mix to potentially acquire Concord Music Group, which could sell for $125 million.