EU Reexamining Sony-Bertelsmann Merger
January 31, 2007 at 12:15 PM (PT)
BLOOMBERG is reporting that EUROPEAN UNION regulators started a reexamination of the merger between the music units of SONY CORP. and BERTLESMANN AG, six months after an EU court threw out their approval.
The EUROPEAN COMMISSION, the EU's BRUSSELS-based antitrust regulator, will rule on the creation of SONY BMG MUSIC ENTERTAINMENT by MARCH 1, a commission spokesman said today by telephone.
The commission, which first approved the deal in JULY 2004, must reevaluate the venture after a successful appeal by a group representing independent music labels.
The EU "may well need additional time to obtain detailed pricing and other information from the marketplace," SONY and BERTELSMANN said in a joint emailed statement. The companies "remain confident" that the commission will confirm its original approval "later this year," they said.