FTC, DOJ Clear UMG Deal For BMG Publishing
November 15, 2006 at 2:07 PM (PT)
The U.S. FEDERAL TRADE COMMISSION and JUSTICE DEPARTMENT have given antitrust approval to VIVENDI-owned UNIVERSAL MUSIC GROUP's planned $2.09 billion acquisition of BMG MUSIC PUBLISHING from BERTELSMANN AG. The deal now awaits approval from European regulators, which is expected by DECEMBER 8.
"We were confident that the regulatory authorities would find that the acquisition did not raise competition concerns, and we appreciate that the JUSTICE DEPARTMENT promptly reached the same conclusion," UMG said.