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Article: Sony, BMG Confident About EU Merger OK
- Article from:
- AP Online
- Article date:
- June 15, 2004
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
06-15-2004
Dateline: BRUSSELS, Belgium
Japan's Sony Corp. and Germany's Bertelsmann AG expressed confidence Tuesday that their music merger would win antitrust approval following 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 companies are seeking to combine their BMG and Sony Music divisions.
The music companies "were actually a little shaken by the questioning" from regulators, said Philippe Kern, speaking for Impala, an association of ...