EMI/Time Warner withdraw EU merger application
But they still want to do it
EMI and Time Warner have withdrawn an application to merge their music businesses from European Commission anti-trust regulators.
The companies still want to merge and have said they will continue talking to find a solution that satisfies anti-trust concerns in Europe and the US.
By withdrawing their application for European regulatory approval, the businesses gain the opportunity to submit a new merger proposal at a later date without having had the original proposal blocked.
European regulators are concerned that Time Warner and EMI could dominate the market for delivering songs over the Internet as well as the regular music publishing business. ®