(Reuters) - The European Commission -- the European Union's antitrust
authority -- said Tuesday that Universal had responded to
initial "serious doubts" about the proposed merger by offering
to sell off the rights of key labels in the music giant's
roster. The eventual concessions would include the sale of
Rondor U.K., Zomba U.K., BBC Music, 19 Songs, 19 Music as well
as a European license for the Zomba U.S. catalog.
EU competition commissioner Neelie Kroes said the
concessions were vital in an environment where digital music
has the potential to change the face of the European music
industry. "I am satisfied that the significant remedies will
keep these markets competitive and ensure that consumers will
not be harmed by the merger," she said.
Read more at Reuters.com Business News
authority -- said Tuesday that Universal had responded to
initial "serious doubts" about the proposed merger by offering
to sell off the rights of key labels in the music giant's
roster. The eventual concessions would include the sale of
Rondor U.K., Zomba U.K., BBC Music, 19 Songs, 19 Music as well
as a European license for the Zomba U.S. catalog.
EU competition commissioner Neelie Kroes said the
concessions were vital in an environment where digital music
has the potential to change the face of the European music
industry. "I am satisfied that the significant remedies will
keep these markets competitive and ensure that consumers will
not be harmed by the merger," she said.
Read more at Reuters.com Business News
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