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Joaquín Almunia statement

EC STATEMENT: Said Competition Commissioner Joaquín Almunia: “Competition in the music business is crucial to preserve choice, cultural diversity and innovation. In this investigation, we have paid close attention to digital innovation, which is changing the way that people listen to music. The very significant commitments proposed by Universal will ensure that competition in the music industry is preserved and that European consumers continue to enjoy all its benefits. The total size of the divestment package represents a very large size of EMI's revenues in Europe, roughly speaking around two-thirds…and all the remedies mean the new entity no longer poses a threat.” (9/21a)

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