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Microsoft is not the only company suffering from the EU's puckish approach to antitrust, which allows competitors to exercise a veto. It is now the turn of the music industry, as the Court of First Instance has reversed an EU Commision approval of a merger between Sony and BMG:
The . . . decision is a victory for Impala, the group representing 2,500 independent music companies that had appealed the approval. The group argued that the combined Sony BMG Music Entertainment would stifle the emergence of new artists and reduce competition in the industry. . . . Impala said the commission ignored evidence that the combined company would be able to dominate the market. The judges agreed. "Dominate the market"? The whole point of the Internet is that it is turning markets upside down and removing anyone's ability to dominate anything. Which century are these guys in?
Also - If the EU has experts who can predict the effects of a merger and the future details of the industry even a couple of months ahead, I want them to start a mutual fund so I can invest.
posted by James DeLong @ 8:16 AM | Antitrust, International
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