A Sony-led group is set to win approval from European antitrust regulators for its $2.2 billion (€1.7 billion) purchase of EMI's music publishing business, it was reported this morning.
The Financial Times, which cited people involved in the negotiations, said clearance from the EU Commission would help Sony avoid the possibility of a longer review of the deal's antitrust implications.
Sony had earlier offered concessions to the EU in a bid to gain approval for the planned acquisition that would see it become the biggest player in the sector.
Sony will sell EMI Music Publishing catalogues that generate about €25 million in annual revenue from songwriters such as Ozzy Osbourne, Culture Club and Tears for Fears, the paper said.
A European Commission press officer had no immediate comment.
Reuters
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