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The European Commission has released an 84-page, non-confidential document, fully outlining its decision in April to approve the Sony ATV\/EMI Music Publishing merger, subject to remedies. The decision was made on April 19, when The Commission was satisfied that, subject to divestments agreed after a first-phase review, the transaction “would not significantly impede effective competition in the EEA or any substantial part of it.”<\/p>\n
Commission vice president Joaqu\u00edn Almunia said at the time, “Sony and Mubadala have offered to divest valuable and attractive catalogues containing bestselling titles as well as works of successful and promising authors.<\/p>\n
\u201cI am therefore satisfied that the competitive dynamics in the online music publishing business will be maintained so as to ensure consumer choice and cultural diversity.”<\/p>\n
The divestments included the worldwide rights in relation to works included in four catalogues – namely Virgin UK, Virgin Europe, Virgin US, and Famous Music UK – and the catalogues of a number of best-selling titles including the rights to works by leading authors such as Gary Barlow, Ozzy Osbourne, Robbie Williams, Ben Harper, Lenny Kravitz, Placebo and The Kooks.<\/p>\n
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