Sony/BMG merger gets the nod
PrintRegulators let it lie
Posted in Music and Media, 20th July 2004 08:37 GMT
Free whitepaper – Dell/EMC CX4 and Dell PowerEdge blades
The European Commission has approved the merger of Sony and BMG's respective music units.
Competition Commissioner Mario Monti gave the deal the nod despite complaints from other labels and smaller independents that a merger would reduce competition and lead to higher prices for consumers. There are no conditions attached to EC approval.
The new firm will account for 23 per cent of worldwide music sales, and one in three new releases in the US, according to Nielsen SoundScan. It still requires approval from the Federal Trade Commission in the US but that is expected within days.
The deal will leave 80 per cent of the market in the hands of the "big four" - Sony/BMG, Vivendi Universal, EMI and Warner. European regulators said they would keep an eye on the market and would "carefully scrutinise" any further consolidation. ®
Related stories
BMG to punt cheap, no-frills CDs
Sony - BMG wedding hit by EC spoiler
London council clamps down on Sony and BMG
What Exchange can't do - and Dell can
Enabling the Agile Data Center
Analyst Keynote: The Register Agile Data Center Summit
Analyst Keynote: The Register Agile Data Center Summit
Dirty, dirty PCs: The X-rated picture guide
Top 500 supers - rise of the Linux quad-cores
Early adopters bloodied by Ubuntu's Karmic Koala
Sign up, sign up for The Register IT security newsletter