European Commission Officially Approves Sony BMG Tie-Up

European Commission Officially Approves Sony BMG Tie-Up

The European Commission has now officially re-approved the Sony BMG joint venture, an expected formality. The green light follows an original approval in 2004, though independent label group Impala sparked a reexamination last year. "This investigation represents one of the most thorough analyses of complex information ever undertaken by the Commission," said Neelie Kroes, competition commissioner for the European Union. "It clearly shows that the merger would not raise competition concerns in any of the affected markets." Over the past few years, CD sales have started to drop precipitously, a factor that affected the recent outcome. Sony BMG is a joint venture between Bertelsmann and Sony Corp.

Story by news analyst Alexandra Osorio.

Bron: http://www.digitalmusicnews.com/stories/100307ec/view