EU regulators to decide by Oct. 26 on Sony's $2.3 bln bid for EMI [Reuters]
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Source: Reuters
EU regulators to decide by Oct. 26 on Sony's $2.3 bln bid for EMI | Reuters 2 Min Read BRUSSELS, Sept 24 (Reuters) - Sony Corp will know by Oct. 26 whether EU antitrust regulators will wave through its $2.3 billion offer for control of EMI to become the world’s largest music publisher, according to a filing on the European Commission website on Monday. Sony, which announced the deal in May, sought EU approval for the deal last Friday. The proposed acquisition is the boldest strategy move by its new CEO Kenichiro Yoshida, which would give it rights to 2.1 million songs from artists such as Drake, Sam Smith, Pharrell Williams and Sia. EU antitrust enforcers can clear the deal with or without concessions or open a four-month investigation if they have serious concerns. The Japanese group, which currently owns a 30 percent stake in EMI, wants to buy Mubalada Investment Co’s 60 percent stake. In July, it acquired the estate of Michael Jackson’s minority share of EMI. The music industry has
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