Music Deal Is Rejected in Europe

MUSIC DEAL IS REJECTED IN EUROPE
[SOURCE: New York Times, AUTHOR: Jeff Leeds]
In a rare move, a European court invalidated regulators' approval of the 2004 merger of the music divisions of Sony and Bertelsmann, a ruling that cast doubt on consolidation plans in the recording industry as well as regulators' ability to examine mergers. The move by the European Court of First Instance in Luxembourg, Europe's second-highest court, means the companies must submit to a new review of the music venture, Sony-BMG Music Entertainment. The court, in ruling on an appeal brought by independent record companies, said the European Commission had conducted a sloppy analysis and had erred in approving the merger that created Sony-BMG. In a new review, the commission could approve the deal again, force the companies to accept conditions like a sale of assets or dissolve the venture, though most analysts said that step was unlikely.
http://www.nytimes.com/2006/07/14/business/14music.html
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http://www.usatoday.com/printedition/money/20060714/music14.art.htm

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http://www.latimes.com/business/printedition/la-fi-sony14jul14,1,3069044...