Pan-European indie label trade body IMPALA has announced it will formally oppose any attempt by Sony to buy the EMI music publishing company and/or Universal to buy the EMI record labels . Vivendi-owned Universal and the Sony Corp’s combined music assets – including wholly owned Sony Music and publishing JV Sony/ATV – are the two biggest music companies in the world, and IMPALA argues that the move would be detrimental to the music industry as a whole. Interestingly IMPALA seems less resistant to a Warners takeover, saying here that ‘remedies’ could solve any competition issues. The trade body has confirmed that it has asked the European Commission to investigate “all possible options to intervene” should Sony or Universal be successful in bidding for a sizable slice of the EMI business.
IMPALA’s Executive Chair Helen Smith said “We have always said our position is no mergers without remedies and we know from 2007 that it is possible to find a solution which is far-reaching enough. Our problem with Universal, however, is that we believe it is simply too big already to be allowed to gain more power and we have the same concerns over Sony buying EMI publishing. Making such a duopoly more powerful goes completely against the basic principles of competition in cultural markets”.