California AG Looking At UMG/EMI Deal
March 28, 2012 at 3:50 AM (PT)
As various agencies look at the affect of UNIVERSAL MUSIC GROUP's purchase of EMI MUSIC, another government is stepping into the inquiry, reports BUSINESSWEEK, which writes "CALIFORNIA Attorney General KAMALA HARRIS is probing the planned purchase of EMI GROUP by VIVENDI SA (VIV)'s UNIVERSAL MUSIC and an investor group led by SONY/ATV MUSIC PUBLISHING."
The CALIFORNIA AG’s office has reached out to customers and competitors of EMI, UNIVERSAL MUSIC and SONY/ATV about the effect the deal may have on pricing, noted BUSINESSWEEK. "The state began seeking information in late FEBRUARY to determine whether the $4.1 billion transaction would violate antitrust rules," a source told the report.
This new investigation is on top of the U.S. FEDERAL TRADE COMMISSION and the EUROPEAN UNION.