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Bertelsmann and EMI Group abandoned plans to merge their recording businesses, after determining that regulatory hurdles in the United States and Europe were too high. Merger talks ended when European regulators indicated rejection of any deal reducing the number of major record labels from five to four, which would require EMI and Bertelsmann to sell off sufficient assets to create a fifth label.
May 01, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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