UMG's $1.9B EMI Buy Is Raw Deal For Consumers, FTC Hears

Law360, New York (June 14, 2012, 7:00 PM EDT) -- Two major consumer groups urged the Federal Trade Commission on Wednesday to block Universal Music Group's proposed $1.9 billion acquisition of EMI Group Ltd.’s recorded music arm, warning the merger would likely lead to higher prices and fewer innovations.

Consumer Federation of America and Public Knowledge said removing one of only four major labels would lead to a consolidation of power well in excess of what the FTC views as an acceptable level, and that a lack of competition would allow the music industry to delay...
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