Impala Objects To BMG Publishing Sale
September 7, 2006 at 4:45 PM (PT)
Independent label representative group IMPALA has objected to UMG's announced purchase of BMG MUSIC PUBLISHING, conjuring shadows of the organization's effective fight against the SONY/BMG merger, which saw the EU court nixing the merger's 2004 approval (see NET NEWS 7/13). Of the proposed sale of BMG PUBLISHING to UMG, IMPALA Pres. PATRICK ZELNIK stated, "This merger would have serious repercussions for competition."
Despite IMPALA's objections, BMG finance director THOMAS RABE says that the sale of the company' publishing arm to UMG parent company VIVENDI will be approved by the end of the year. RABE also said the disputed SONY merger would be resubmitted to the commission in autumn, a process that should taker up to a year to approve.