Brussels, 15/09/2000 (Agence Europe) - Reacting to certain press statements whereby the Commission was preparing to ban the merger between Time Warner and EMI, the spokesperson for competition, Amelia Torres, specified that Commissioner Monti has not yet given his opinion. She recalled that the deadline for the Commission decision is 18 October. By then, the companies may, until next Tuesday, submit commitments. Commissioner Monti will have talks on Monday with the decision-makers of the companies concerned. Depending on the arguments presented and the opinion given by the Consultative Committee, which has still to be held, the Commission will then give its ruling. It is therefore obvious that the matter still has time to develop, in the light of the commitments made by the companies.
EUROPE recalls that the rapprochement between EMI and Time Warner would create the largest recorded music company with a market share of nearly 25% and a turnover close to $8 billion. It is because of this that the Commission fears a dominant position will come about due to this new group in the sector, to the detriment not only of users but also of publishers and artists.