Bertelsmann and Sony have given detailed Reply to the Statement of Objections

Bertelsmann and Sony have today given the European Commission their detailed Reply to the "Statement of Objections" ("SO") regarding the proposed Sony BMG recorded music joint venture. BMG is confident that the reply, and the economic analysis it includes, deals with all issues raised in the SO. Both BMG and Sony have requested an Oral Hearing, which will take place in Brussels on June 14/15, at which they will have the opportunity to debate the outstanding issues with the Commission and address directly the third parties who have voiced their own views. Following this Hearing, the parties can continue to provide the Commission with any additional information and explanations the Commission needs to prepare its formal decision on the Sony BMG recorded music joint venture. The deadline for that decision is July 22.

The Sony BMG joint venture is the response to long-term change in the economic viability of the recorded music industry. It enables the creation of a focused recorded music business which can sustain higher levels of investment in A&R (artists and repertoire) than would otherwise be possible, thereby safeguarding and promoting cultural diversity in Europe. The creation of the joint venture will benefit consumers of music in this rapidly changing market environment.

For further questions, please contact:

Oliver Herrgesell
Senior Vice President Media Relations
Phone: 49 - 52 41 - 80 24 66
oliver.herrgesell@bertelsmann.com

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1_PM_BMG_Sony_Reply_SO_engl.pdf	68 kB