The European Commission said deal would not hurt competition
in the recorded music and music publishing industries.
"The transaction will not materially increase Sony's market
power vis-a-vis digital music providers compared to the
situation prior to the merger," the EU competition enforcer said
in a statement.
Rival Warner Music Group and independent labels had called the
Commission to take a tough line with the deal because they
feared it would give Sony too much power.
(Reporting by Foo Yun Chee. Editing by Jane Merriman)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
|