April 19 A Sony-led group is set to win
approval from European antitrust regulators for its $2.2 billion
purchase of EMI's music publishing business, the Financial Times
said, citing people involved in the negotiations.
Clearance from the EU Commission, the executive body which
acts as the competition regulator for the 27-country European
Union, would help Sony avoid the possibility of a longer review
of the deal's antitrust implications, the newspaper said.
Sony had earlier offered concessions to the EU in a bid to
gain approval for the planned acquisition that would see it
become the biggest player in the sector.
Sony will sell EMI Music Publishing catalogues that generate
about 25 million euros ($33 million) in annual revenue from
songwriters such as Ozzy Osbourne, Culture Club and Tears for
Fears, the Financial Times said.
A Commission spokesperson declined to comment to the
A European Commission press officer had no immediate comment
when contacted by Reuters.