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Article: Sony, BMG express confidence in winning EU approval for music deal despite opponents arguments
- Article from:
- AP Worldstream
- Article date:
- June 15, 2004
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AP Worldstream
06-15-2004
Dateline: BRUSSELS, Belgium
Japan's Sony Corp. and Germany's Bertelsmann AG expressed confidence Tuesday that their music joint venture would win antitrust approval after two days of closed-door hearings before European Union regulators.
But opponents who argued against the 50-50 joint venture disparaged the companies' presentation, which included a personal pitch from Rolf Schmidt-Holtz, chairman and chief executive of Bertlesmann's music unit, BMG.
The music companies "were actually a little shaken by the questioning" from regulators, said Philippe Kern, speaking for Impala, an association of independent record companies.
For their part, Sony and Bertelsmann said ...