GERA Blasts Merger Talk
The European branch of the Global Entertainment Retail Assn. (GERA) on Friday warned against consolidation among the music majors, claiming that a market with fewer big record companies would reduce consumer choice.
In a statement, GERA says the proposed merger of
Sony Music and BMG or a deal between EMI and Warner could create a situation in which "competition between labels may diminish to a level where a healthy and diverse market cannot be retained." GERA adds that the European Commission reached the same conclusion in 2000, when it blocked EMI's attempted merger with Warner Music.
Simon Wright, president of GERA and CEO of Virgin Entertainment Group, says the music market needs innovation rather than consolidation. "The way forward is through investments in good, high-quality content; digitization of content; and new formats-not through a cost-cutting exercise," he says.
In a statement, GERA says the proposed merger of
Simon Wright, president of GERA and CEO of Virgin Entertainment Group, says the music market needs innovation rather than consolidation. "The way forward is through investments in good, high-quality content; digitization of content; and new formats-not through a cost-cutting exercise," he says.
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- Austrian Retail Body Joins GERA-Europe
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- BMG Brazil Prez Exits
- FTC Clears Sony BMG
- Mergers And Buyouts And Moves, Oh My!
- EC Restarts Clock On BMG/Sony Probe
The European Commission pledged today (July 20) to remain vigilant and monitor the music market. The announcement came the day after the body gave the ......
Sony Music and BMG's proposed merger is only one formality away from being green-lighted by the European Commission.
There was a time when the music industry could operate in an isolationist mode.
For the first time, leading European retailers and international labels have mapped out a cooperative work program aimed at enticing customers back into record stores.
The Austrian Entertainment Retailers Assn. has joined the Brussels-based Global Entertainment Retail Assn. Europe (GERA-Europe). The Austrian body, headed by president Gerda Korp, represents 150 ......
An estimated 55 million U.S. viewers are expected to tune in to the 46th Grammy Awards ceremony on Sunday, Feb. 8, to see a star-studded ......
To protect its recorded treasures, Universal Music Group has begun to deliver a landmark one-two punch in the cause of preservation and archiving, Billboard has ......
The European Commission's competition division is expected to issue its preliminary ruling on the proposed Sony Music-BMG merger on Feb. 12, Billboard.biz has learned.
Majors claim deal would help revive industry.
Once more, record companies' attempts to sell copy-protected CDs in Europe have raised consumers' hackles.
Universal Music Group is leading the charge to get consumers back into retail stores to buy CDs.
As part of the ongoing integration of Sony Music and BMG, Luiz Oscar Niemeyer has left his post as president of BMG Brazil.
The merger of Sony Music and BMG has cleared its final regulatory hurdle, as the Federal Trade Commission (FTC) today (July 28) announced that it ......
Two of Hollywood's major studios changed hands in 2004. In May, General Electric formally tied the knot on the union of NBC and Universal Studios.
The European Commission has resumed its investigation into the planned merger between the music operations of Sony and Bertelsmann, naming a new deadline for its ......
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