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Saturday, July 15, 2006

European Union Court Not Friendly To Hollywood

An EU court rejected the 2004 merger of Sony's music division with BMG's music division on antitrust grounds. The ruling casts a cloud over the pending Warner Music and EMI merger plans. Now Viacom is eyeballing BMG's music publishing arm. Universal Music is interested in bidding on the BMG division too. Citigroup and J.P. Morgan are managing the invitation only auction.
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