The European Union on Monday approved the merger of Sony Music and Bertelsmann AG's BMG unit
Published:
20 July 2004 y., Tuesday
The European Union on Monday approved the merger of Sony Music and Bertelsmann AG's BMG unit in a deal that gives the four "majors" control of about 80 percent of the world music market, Bertelsmann said.
The EU's executive body, the European Commission, had been widely expected to endorse the decision of Mario Monti, the EU's competition commissioner, to approve the merger.
"The merger was approved without conditions," Bertelsmann spokesman Oliver Herrgesell said in a telephone interview.
Monti reversed his merger team's initial objections to the deal after two days of closed-door hearings in June with the companies and third parties, including independent labels and companies involved in the emerging legal market for online music downloading.
Bertelsmann said it is now looking forward to concentrating on the integration of the two companies.
Šaltinis:
story.news.yahoo.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The European Commission has authorised under EU state aid rules a €550 million capital injection and a €400 million guarantee in favour of the Austrian bank BAWAG. P.S.K. The Commission found the measures to be in line with EU state aid rules.
more »
EUROSTAT has reported that the sharpest annual decrease in hourly labour costs of -10.9% was observed in Lithuania in the 3rd quarter of 2009.
more »
Statistics Lithuania informs that, according to the Labour Force Survey data, the number of the unemployed in III quarter 2009 made 228.1 thousand.
more »
What has come to be termed as the "Great Recession" seems to have come to an end in the third quarter of 2009.
more »
The European Commission has authorised, under EU State aid rules, a measure adopted by Lithuania to limit the adverse impact of the current financial crisis on exporting firms.
more »
The schedule of Vilnius International Airport (VIA) is supplemented with 3 more new directions; the airline company airBaltic starts regular flights to Paris today, to Munich tomorrow, and to Berlin on Monday.
more »
The Governing Council of the European Central Bank (ECB) has decided to start the main construction works for its new premises in spring 2010.
more »
AB Bank SNORAS was granted the award from NASDAQ OMX Baltic Stock Exchange for the jubilee 15-year listing of the bank’s shares on NASDAQ OMX Vilnius Stock Exchange.
more »
Parex banka has established a subsidiary, SIA NIF, which will professionally manage assets that are not related to the Bank’s core business.
more »
Mariann Fischer Boel, European Commissioner for Agriculture and Rural Development, today put forward a plan to ensure that Greece will put in place the systems necessary to allow EU aid payments to be made to farmers.
more »