UMG-EMI Hits Turbulence in DC

UMG-EMI MAKING WAVES IN WASHINGTON: Universal Music Group’s pending $1.9 billion bid for EMI Group has encountered some turbulence in the corridors of the nation’s capitol, according to Politico, an online site. The merger would give UMG more than 43% (33% plus EMI’s 10%) of the American recorded music marketshare, which is striking a sour note with some critics. The FTC is currently reviewing whether the transaction violates antitrust laws. To help wage its battle inside the Beltway, rival WMG has enlisted lobbying help from Brownstein Hyatt Farber Schreck, which includes ex-RIAA head Hilary Rosen. UMG released the following statement: “We are working closely with the commission and are confident that we will secure the necessary clearance.” (4/3a)