IMPALA boss Helen Smith says these developments – especially now that they will give Sony 100% control of EMI – should be a cause for concern for regulators.
She said: “Sony’s results confirm that its bid to acquire control of EMI Music Publishing is 100%. It will make the merger control process even tougher for Sony. The Michael Jackson estate was part of the structure that Sony previously built around EMI. With that falling away, it completely cuts out the safety net that prevented Sony from doing what it liked with EMI publishing”.
She went on: “The European Commission will be acutely aware of this, as that was a key part of its analysis when it first looked into Sony buying shares in EMI. Even then it insisted on divestments, so it is difficult to see how this could be approved. The EC will be particularly concerned about Sony using its new combined power across recording and publishing to leverage more from digital music services and consumers”.
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