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Bertelsmann SE & Co. KGaA

EMI and Bertelsmann end talks

London/Gütersloh (ots)

After intensive exploratory talks,
Britain's EMI Group plc and Bertelsmann AG have decided not to
continue the negotiations about merging their music businesses. The
companies have mutually concluded that the regulatory hurdles
Brussels and Washington would most likely impose on an
EMI/Bertelsmann Music Group (BMG) merger would require a complicated,
lengthy investigation and approval procedure. Also, preliminary talks
indicated that there would be significant stipulations, which might
have called the project's economic viability into question.
"Our companies will now continue along their respective paths",
Bertelsmann Chairman & CEO Thomas Middelhoff said. "BMG's status as a
magnet for entrepreneurial and creative talent and our cutting-edge
distribution concepts put us in a good position in the music
business."
Over the past months, Bertelsmann has vastly improved its position
in the music sector. With its new management team and a
forward-looking corporate structure, the Bertelsmann Music Group,
which unites more than 200 labels - featuring superstars like
Christina Aguilera, Whitney Houston and Santana - is in an excellent
position for future growth. Bertelsmann is already the global leader
in direct-to-customer music distribution with its newly created
corporate unit BeMusic, comprised of the leading online music
retailer CDNow and the world's largest music club BMG Music Service.
In digital music distribution, Bertelsmann has become the industry
standard-bearer: both its establishment of the online platform
MusicNet - set up jointly with AOL Time Warner, EMI and RealNetworks
- and its support of Napster's efforts to become a fully lawful music
subscription service give the company a wealth of new distribution
channels. Customers get the music they want, whenever they want it,
from wherever, and in whichever form they prefer.
Said Middelhoff: "The music industry has really gotten going. It
is finally building digital services that are user-friendly,
convenient, fast and mobile. In these stormy times, there exists a
particularly high demand for the core competence of music companies
like the Bertelsmann Music Group: the ability to work creatively with
artists, foster new talent and carry out effective promotion. BMG is
sure to have new opportunities for cooperation soon."
For further information please contact:
Manfred Harnischfeger
Bertelsmann AG
Mobile : +49 - 172 - 5 29 52 79  
manfred.harnischfeger@bertelsmann.de
Susanne Erdl
Bertelsmann AG
Phone:   +49 - 52 41 - 80 24 66
Mobile: +49 - 172 - 5 24 31 46page 1 of  1 
susanne.erdl@bertelsmann.de

Original-Content von: Bertelsmann SE & Co. KGaA, übermittelt durch news aktuell

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