“The European Commission has launched an in-depth investigation into Universal Music’s proposed takeover of BMG Music Publishing,” BBC News reports.
The Commission said it would make its decision on 27 April, adding it currently had ‘serious doubts’ over the deal’s competition implications,” The Beeb reports.
“French-owned Universal agreed to buy its German music publishing rival for $2.1bn (£1bn) back in September,” The Beeb reports. “The firms are the world’s third and fourth largest music publishers. Together they would become the new world number one, ahead of market leader, UK firm EMI.”
Full article here.
[Thanks to MacDailyNews Reader “wandering joe” for the heads up.]
Apple ‘forcefully’ opposes Sony-BMG merger plan – February 12, 2004