UMG Closing In On Purchase Of BMG Publishing
November 6, 2006 at 5:41 AM (PT)
FORBES is reporting that THE EUROPEAN COMMISSION has set a deadline of DECEMBER 8 for its ruling on VIVENDI SA's UNIVERSAL MUSIC GROUP's buy of BMG MUSIC PUBLISHING, currently owned by German media giant BERTELSMANN AG.
BERTELSMANN said in SEPTEMBER that it had agreed to sell for EU 1.63 billion. A spokesman for BERTELSMANN said at the time that the company is confident it will obtain regulatory approval.