EU Expected To Rule On UMG Purchase Of EMI Next Friday
Sony Buyout Of EMI Publishing Ruling Expected April 2nd
March 16, 2012 at 4:11 AM (PT)
THE FINANCIAL TIMES reports "UNIVERSAL MUSIC is to face a lengthy in-depth investigation into its $1.9 billion bid for EMI's record labels, as BRUSSELS explores concerns that the tie-up could unfavorably tilt the balance of power in the digital music business."
The EUROPEAN COMMISSION has said privately it has "serious doubts" over the impact on competition from UMG's purchase of EMI.
Regulators are expected to announce a decision on MARCH 23rd.
"Although talks are continuing, a more detailed second-stage investigation is also expected into a SONY-led consortium’s $2.2 billion bid for EMI's publishing business," adds the FT report.
The deadline for this ruling is expected on APRIL 2nd.