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Senate Eyes UMG-EMI

UMG-EMI UNDER SENATE SCOPE: A U.S. Senate panel will hold a hearing on UMG's proposed acquisition of EMI's recorded-music division, according to the Wall Street Journal. The Senate Judiciary Committee's antitrust panel, chaired by retiring Senator Herb Kohl, will likely hold the hearing this summer, a Senate staffer said today, with sources indicating it could happen before the end of June. The Federal Trade Commission and European Commission are presently conducting antitrust reviews of the deal. "We welcome the opportunity to answer any questions that the subcommittee may have, address the facts and debunk myths," a Universal rep said in a statement. "Universal Music is committed to reinvesting in EMI to create even more opportunities for new and established artists, expand the marketplace with more music and support new digital services. We remain confident of regulatory approval." (5/11p)

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