The commission was reported to have wanted to block the proposed deal, partly because of the Time Warner’s plan to merge with America Online (AOL), which it feared could create a superpower in the online music distribution market.
Time Warner and AOL’s $145bn merger is now expected to go ahead. European competition officials were ready to approve it before EMI entered the equation.
EMI and Time Warner said they would continue to work with regulators to seek other ways of comining.
Eric Nicoli, EMI Group chairman, said: ‘We continue to believe that a joint venture with Warner Music Group can create substantial value and provides the opportunity to build a unique, Anglo-American owned music company.’
This article first appeared on vnunet.com.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel