MI2N
Music Industry News Network
MONDAY, JUNE 29TH
Advanced Search
MusicDish Advertising Network
Subscribe to Mi2N's Free Newsletters B2N (business) i2N (indie)
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 01-13-2013

Independent Music Companies Ask EC To Investigate EMI Divestment Processes By Sony And Universal

Bookmark and Share
As Sony and Universal advance with selling off assets as part of the EC's approval for the acquisition by the two market leaders of their former rival EMI, European independents confirmed today that they have asked the EC to intervene.

The trade body IMPALA has asked decision makers in Brussels to make sure the outcome promotes competition and does not strengthen the duopoly that exists between Universal and Sony.

The news comes as reports circulate this week that Sony and BMG, who are already understood to share a close working relationship, made a joint bid for Parlophone and other Universal/EMI assets. BMG was Sony's choice of buyer for the publishing catalogues Virgin and Famous, with the deal announced on the same day as BMG was declared the buyer of Mute Records from Universal.

These facts are expected to raise alarm bells with the European regulator, who is responsible for reviewing the sale processes and deciding whether these deals meet strict criteria set by the EC to ensure the divestments have the desired effect. Any irregularities could turn the procedure into a full blown investigation.

Universal and Sony were allowed to buy EMI on the basis that the divestments they make would compensate for the reduction in competition in an adequate way. Strict rules apply to make sure this happens. First, the purchaser must have no connections to the seller. Second, the seller must not benefit from the divestments or re-acquire any market influence over the assets. Third, the divestment must not raise any competition concerns (which rules out any Sony involvement in bids). Any breach of these conditions or other irregularity, or any result which protects the position of Sony or Universal, whether co-ordinated or otherwise, is forbidden and would be blocked by the EC.

Helen Smith, Executive Chair of Impala said: "Our position from the start has been that music must not be allowed to become a "two horse race" and making sure the independents are able to compete effectively is crucial. All interested companies should be treated equally as bidders for any assets to be sold off. Properly strengthening the independents should be part of the outcome. The divestment processes must not be conducted in a way that simply comforts the market leaders' view of how competition should, or should not, develop."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

Xprnc Media Working With Eagle Rock On National Promotion Of Rolling Stones Release

From North Korea To NYC - Shanghai DJ B.O Spins Libation & Leftfield

Tamara Laurel's "Whiskey" Recorded At Hybrid Studios

Johnoscar Releases "Cinema Paradiso: A Night At The Movie

Armonite's Album 'The Sun Is New Each Day' Available On June 19, 2015

THIRSTY - Quireboys Founder And British Rock Musician, Guy Bailey, Launched The Eponymous Debut Album THIRSTY

"THANK YOU" By LiLi Roquelin Is The Song For SIA's Dancer Maddie Ziegler's New Solo Number

"Countrified" Newcomer Leslie Cours Mather's Video Premieres Worldwide Today On Country Fix



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» SOCAN Releases Fiscal Year 2014 Final Results
» New Music-Making App Rututu Launches Kickstarter Campaign
» Forman Bros. Acquires Thousands Of Titles
» MusicDish Review: Armonite's "Suitcase War"
» Westwood One And SoundHound Inc. Team Up To Present SoundHound For Radio
» Trans World Entertainment Names Scott Hoffman As Chief Merchandising Officer
» Hang W/ Enables Live Broadcasters To Share Direct To YouTube
» TanZ Group Announces TRANSMIT+
» Vig T Releases Debut Electronica Album 'EarSoundMusic'
» Hit Songwriter/Artist Lori McKenna Inks Publishing And Management Deal With Creative Nation


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Blue Note Entertainment Group Further Expands East With New Venue In Beijing
» From North Korea To NYC - Shanghai DJ B.O Spins Libation & Leftfield
» Bay Area Chinese Music Association Presents Second Hand Rose West Coast Show
» Cooking Vinyl's Martin Goldschmidt Calls For Direct Tax Breaks For Music
» Strong Opportunities For International Tech Manufacturers Among Chinese Consumers
» New Island Entertainment Presents Second Hand Rose @ New York's Santos Party House
» MusicDish*China Tours, Signing, NYCxDesign And Planetrox
» Award-Nominated DJ Soulier Performs At Beijing's Award-Winning DDC
» Second Hand Rose "Crossing Boundaries" World Tour
» CMW Live Touring Summit: Interview With Elliott Lefko
» Online Chinese Music Video Platform Yinyuetai Raises $35 Million In Funding
» Founder Of Beijing Oi! Punk And MiSanDao Front Man Passes Away

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2015 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.