Universal, EMI Defend $1.9B Deal Before Senate Panel

Law360, New York (June 21, 2012, 9:36 PM EDT) -- Asked why their proposed tie-up should not face the same fate as the doomed merger plan of AT&T Inc. and T-Mobile USA Inc., the CEOs of Universal Music Group and EMI Group Ltd. told lawmakers Thursday their deal wouldn't give them enough market power to hike prices, given rampant piracy and powerful digital distributors iTunes and Amazon.com.

The spector of the failed AT&T-T-Mobile deal loomed large over the Senate subcommittee hearing as Sen. Herb Kohl, D-Wisc., asked why the $1.9 billion Universal-EMI deal — a tie-up...
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