RUMOR MILL

Meanwhile, though Sony Music marked a revenue drop of 3.1% for the fiscal third-quarter, the unit trumpeted a 50% increase in profit—a bright spot, actually, amid the parent company's 26% overall profit plunge.

Thursday, January 29, 2004

EC TO LOOK HARDER AT SONY-BMG

With European Regulators Reportedly Planning Phase 2 of Merger Scrutiny, Sony Music Reports Profit Jump

According to published reports in the London Times and elsewhere, the European Commission plans to extend its review of the proposed Sony-BMG merger to a second phase.

Numerous competitors, including at least two majors and the indie consortium IMPALA, have expressed vociferous opposition to the marriage of the two music giants (see story, 1/27).

An announcement on the EC decision is expected soon.

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EC TO LOOK HARDER AT SONY-BMG

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