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EC extends Sony-EMI probe

by Renee Cordes  |  Published March 27, 2012 at 3:09 PM
Sony-consortium-buys-EMI-Music-Publishing227.jpgThe European Commission has extended its routine investigation of Sony Corp.'s $2.2 billion planned purchase of EMI Group Ltd.'s music publishing group, giving itself a new deadline of April 19 to study concessions offered by the buyers. Sony is making the acquisition through Sony Corp. of America, which has teamed up with the estate of Michael Jackson, Abu Dhabi's Mubadala Development Co. PJSC, Blackstone Group LP's GSO Capita Partners LP and music and film producer David Geffen to purchase EMI Music Publishing from Citigroup Inc. in a deal agreed in November.

The Sony/EMI deal was always seen as potentially less problematic from a competition standpoint than the sale of EMI's recorded music business to Vivendi SA's Universal Music Group, which is being studied separately in an in-depth probe launched by the Commission last week. That investigation has a deadline of Aug. 9.

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Tags: EMI Group Ltd. | European Commission | media | regulatory

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