FTC Expected to Approve Sony-BMG Merger Today
Music Industry July 20th, 2004The US Federal Trade Commission is this afternoon expected to give approval to the planned merger of Sony and BMG after the European Commission gave its unconditional blessing to the deal yesterday evening.
European Union antitrust regulators said they approved the merger of Sony and Bertelsmann AG’s music units because there was insufficient evidence the deal would harm consumers, but warned they would keep a close watch on any further consolidation in the industry.
The European Commission approved the 50-50 joint venture between Sony Music and BMG late Monday without conditions. The deal will reduce the number of music “majors” from five to four.
Related Reading
EC Approves Sony-BMG Music Merger [CNN.com]
Sony BMG Merger Gets the Nod [the Register]
EU to Keep `Close Watch’ on Music Business With Sony-BMG Merger [Bloomberg]
Sony and BMG Merger Backed by EU [BBC News]
Sony BMG Merger Gets the Green Light [MusicbizNews24]
BMG-Sony Merger Case Continues
[MusicbizNews24.com]
European Indie Labels Nervous at Proposed Sony BMG Merger [MusicbizNews24]
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