Sony/ATV gets EMI go ahead
News: 23rd April 2012 by Louise Dodgson under Finance, Law & Music Business, Music Publishing, Record Labels
So the vaccuuming up of the remains of EMI has begun by the other majors. Whilst Universal are eyeing-up the label side of the business, Sony/ATV have been given the nod by the European Commission to proceed with the acquisition of the music publishing aspect. This new acquisition will give the new Sony/ATV-EMI a large market share of 30% and therefore overtaking the market shares of all competitors by a country mile.
The Independent Music Companies Association, IMPALA, has objected to the EC's approval and their Executive Chair, Helen Smith, commented: "We need to study the full decision in detail, but this is bad news for Europe's publishers and writers, as well as for collecting societies and any label or online service which needs to be able to rely on fair terms to use music. In the wake of Martin Bandier's confirmation this morning of expected job losses at both EMI and Sony, we are particularly concerned for all Sony and EMI's employees and writers. We remain convinced that the impact of this merger on the livelihood of authors, and the ability of the remedies to secure future competition, have both been underestimated. We understand the Commission has treated the case as unique, concluding on the basis of its analysis of Sony's power and the specificities of its corporate structure and rejecting other arguments such as the power of online players, which will send a strong message regarding the Universal/EMI case, now even more crucial."
sony/atv, emi, music publishing, major labels, impala, record labels, record companies, music publishers, music publishing companies, music industry, music business