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IMPALA Opposes Merger

IMPALA OPPOSES URGE TO MERGE: As we reported earlier this week, European indie label coalition IMPALA will oppose UMG’s acquisition of EMI announced today, insisting “even if Universal proposes to increase the 500m divestments it is prepared to make, the deal will not be accepted.” IMPALA points out, the last time the European Commission looked at Universal, it ordered the company to sell off assets to cut it down to an acceptable size. “Since that decision, Universal has grown, which makes it even less likely that the regulators would accept any new acquisitions.” In addition, IMPALA has already asked the European Commission to investigate Universal’s tie-up with Live Nation and Sony’s reported purchasing of EMI Music Publishing. Executive Chair Helen Smith expects the EC to block the sale of EMI to Universal outright, even with divestments. As part of its deal, UMG takes all responsibility for pushing the acquisition past regulatgory. (11/11p)

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