AfterDawn: Tech news

Universal cleared to buy BMG music publishing

Written by Andre Yoskowitz @ 29 May 2007 12:19 User comments (3)

Universal cleared to buy BMG music publishing Last week, the European Commission gave approval for the Universal Music Group to take over BMG Music Publishing, bringing a close to the $2.1 billion USD merger that began five months ago.
The EC, the EU's antritrust authority said in its decision that Universal had responded to the charges by "offering to sell off the rights of key labels in the music giant's roster." These concessions include the sale of Rondor U.K., Zomba U.K., BBC Music, 19 Songs, 19 Music as well as its European license for the Zomba U.S. catalog.

EU competition commissioner Neelie Kroes added, "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.

The new merged company will now go under the name Universal Music Publishing Group brand.

The takeover was cleared months ago in the US by the FCC and the EU approval was the last hurdle for the merger could be completed. BMG has an active catalogue of over one million songs.



Source:
Washington Post

Previous Next  

3 user comments

129.5.2007 21:36

This is going to be one of the biggest mergers i feel it may cause a big monopoly.

23.6.2007 18:31
henthom
Inactive

i hope that they do a good job o thisand keep things floating as they are, but it is a big monopoly.monry talks and the other walks.

327.6.2007 22:53

Will they now own Napster, or were those rights sold off to somebody else?

Comments have been disabled for this article.

Latest news

Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets Roomba Combo j7+ review - Clever trick allows robot vacuum finally to tackle home with rugs and carpets (06 Jun 2023 9:19)
Roomba Combo j7+ is the very first Roomba model to combine robot vacuum with mopping features. And Roomba Combo j7+ does all that with a very clever trick, which tackles the problem with mopping and carpets. But is it any good? We found out.
Neato, the robot vacuum company, ends its operations Neato, the robot vacuum company, ends its operations (02 May 2023 3:38)
Neato Robotics has ceased its operations. American robot vacuum pioneer founded in 2005 has finally called it quits and company will cease its operations and sales. Only a skeleton crew will remain who will keep the servers running until 2028.
5 user comments
How to Send Messages to Yourself on WhatsApp How to Send Messages to Yourself on WhatsApp (20 Mar 2023 1:25)
The world's most popular messaging platform, Meta-owned WhatsApp has enabled sending messages to yourself. While at first, this might seem like an odd feature, it can be very useful in a lot of situations. ....
18 user comments
How to Enable Bluetooth on Stadia Controller How to Enable Bluetooth on Stadia Controller (11 Feb 2023 1:04)
Google shut down its streaming game service Stadia late last month and this means that some people have Stadia controllers lying around that seem to be of no use. That is fortunately not the ....
2 user comments
Guide: How to Kick Unwanted Guests from Your Netflix Account Guide: How to Kick Unwanted Guests from Your Netflix Account (26 Jan 2023 2:14)
Sharing a Netflix account with a person in a different location is possible and indeed very common, although the company doesn't necessarily enjoy this behavior from their customers. However, ....

News archive