Senate Holds Hearings on UMG-EMI

DOG & PONY SHOW: Insiders are dismissing recent reports of the Senate Judiciary Committee’s antitrust panel hearing on the UMG-EMI merger as “pro forma” and “typical government grandstanding.” The Committee will not have any effect on the Federal Trade Commission’s ultimate authority on the matter, but will solicit testimony from a variety of witnesses, including interested parties like managers, artists and informed experts. Others say the real reason is a chance for Senators to have their pictures taken with Rihanna or getting an inside track on Justin Bieber tickets for their so-called girlfriends. (5/15p)