Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of Sony/ATV by Sony Corp. of America, (Aug 2, 2016)

By Linda O’Brien, J.D., LL.M.

The European Commission (EC) has cleared under the European Union (EU) merger regulation the proposed acquisition of sole control over the music publishing business of Sony/ATV by Sony Corporation of America, both of the United States, the EC announced today.

Sony/ATV, a music publishing company, is currently jointly owned and controlled by Sony and the estate of Michael Jackson. In addition to its own catalogue, Sony/ATV is also the exclusive administrator of the catalogue of EMI Music Publishing, which is ultimately jointly controlled by Sony. The EC found that the transaction would have no negative impact on competition in any of the markets for recorded music and music publishing in the European Economic Area. Specifically, the transaction will not materially increase Sony’s market power vis-a-vis digital music providers compared to the situation prior to the merger, the EC concluded.

Volvo financial services. The EC also has cleared under the EU merger regulation the acquisition of Volvofinans Bank AB, a provider of automotive financial services, by Volvo Car Corporation, a vehicles manufacturer, and AB Volverkinvest, an association of Swedish Volvo car dealers. All of the companies are based in Sweden. The EC concluded that the proposed transaction would raise no competition concerns given the companies’ moderate market positions resulting from the transaction.

Companies: Sony/ATV Music Publishing; Sony Corporation of America; Volvofinans Bank AB; Volvo Car Corporation; AB Volverkinvest

News: AcquisitionsMergers Antitrust