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"Review Sony/BMG merger" demand indies.
Frustrated by EC inconsistency, Impala calls for a review of procedure and an explanation of the reasons for approving the Sony/BMG deal
The independent community is calling for a fundamental review of the European music market in the light of the EC's clearance of the Sony/BMG merger. The approval of the joint venture last Wednesday - exactly one week before its imposed deadline of October 10 and three years after the merger was first proposed - without remedies has caused shock and surprise at the very heart of the sector that will feel its influence most.
"We are very, very disillusioned," says Impala secretary general Helen Smith. "It is scandalous and smells very bad. After Universal/BMG publishing (where the group was forced to sell assets), the EC has shown itself to be inconsistent on remedies. It is a complete lottery because you don't know if you have to sell off catalogues."
Its concerns about the Sony/BMG decision come as Impala has also asked the EC to halt the publishing divestments ordered under the Universal/BMG publishing merger and to investigate recent Universal acquisitions, including V2. This follows the Office of Fair Trading launching an investigation into the V2 takeover.
One source believes the Sony/BMG ruling will necessitate a review. He says there have been mixed signals given to music groups since EMI and Warner first - unsuccessfully - tried to merge in 2000. "To refuse some mergers, then only allow them with remedies and now let one go through without any conditions, is risky both politically and legally," he argues. Another insider suggests that the EC went to great lengths to ensure it covered every area and "did not screw up".
Impala, which saw the first original merger decision overturned by the Court of First Instance last July after appealing, is vowing to continue the fight, with a litany of legal manoeuvres designed to ensure that the EC provides clear reasons for approving the deal. This includes calling on the European Ombudsman to investigate any impropriety and also pursuing a class action for damages against the EC if it has repeated the "same serious mistakes" it made when it originally approved the merger in July 2004.
Competition Commissioner Neelie Kroes has praised the investigation as "one of the most thorough analyses of complex information ever undertaken by the Commission". This second investigation examined national markets and the likelihood of creating or reinforcing a collective dominant position. It also analysed net prices for all chart albums, the market for licensing music in the digital format and ...
- EC hits snag on Sony-BMG merger probe.
- Magazine article from: Daily Variety Goodfellow, Melanie March 26, 2007 700+ words
...received," Competition Commission spokeswoman Linda Cain said. The EC launched a fresh investigation into the merger earlier this month...merger, "which is very unusual for the merger regulation." The EC's original approval of the merger in July 2004 was annulled...
- MUSIC INDUSTRY : EU CLEARS SONY-BMG MERGER, AGAIN.
- Newspaper article from: Tech Europe November 8, 2007 700+ words
...Universal (Vivendi Group) of BMG Music Publishing's catalogue of musical edition rights, but not for the Sony-BMG merger.a"The EC has ignored the simple fact that four companies control 95% of the music most citizens hear on the radio throughout...
- Sony, BMG merger in motion.(Music briefs)(Bertlesmann Music Group)(Brief...
- Magazine article from: Video Store July 25, 2004 700+ words
Last week, the European Commission (EC) approved the merger of Sony Music with Bertlesmann Music Group...the merger is complete, according to The Hollywood Reporter. The EC found that the massive merger does not constitute a music monopoly...
- Indie labels to fight Sony-BMG merger.
- Newspaper article from: The Evening Standard (London, England) November 5, 2004 700+ words
...where globalisation means Hollywood," said Impala president Michel Lambot, who plans to appeal to the European Commission. The EC in July approved the deal that created a 50-50 recorded music joint venture between Japan's Sony and German media conglomerate...
- Indie trade org fights Sony-BMG merger.(Impala)(Brief Article)
- Magazine article from: Daily Variety Masson, Gordon December 6, 2004 700+ words
...Commission "approval of Sony BMG was all the more extraordinary since two consecutive market investigations carried out by the EC in 2000 and 2004 led to strongly worded statements of objections." Those objections included language relating to the marginalization...
- MUSIC INDUSTRY : EU COURT VOIDS SONY-BMG MERGER.
- Newspaper article from: Tech Europe September 1, 2006 700+ words
...light of Regulation 4064/89 EEC on the control of mergers between undertakings, replaced on 1 May 2004 by Regulation 139/2004 EC of 20 January 2004. However, because the notification of the merger preceded the entry into force of the new Regulation (139...
- The European Court of First Instance Annuls The European Commission's Approval...
- News wire article from: Mondaq Business Briefing July 25, 2006 700+ words
...competitive prices, without having to conclude an agreement or resort to a concerted practice within the meaning of Article 81 EC, without actual or potential competitors, or customers and consumers, being able to react effectively (see, to that effect...
- MUSIC INDUSTRY : SONY-BMG MERGER SENT BACK TO COURT.
- Newspaper article from: Tech Europe September 2, 2008 700+ words
...added to the legal puzzle of the Sony-BMG merger that the EU Court of First Instance...the CFI," it explained. The Sony-BMG merger has been approved for some time. It...and intellectual property. The Sony-BMG merger has in fact brought down the number of...