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Sony, Universal Face Probe for Possible Collusion Against Pandora

7/15/14 11:48 AM EDT
The U.S. Department of Justice is reportedly investigating possible pricing coordination by Sony's Sony/ATV Music Publishing and Vivendi's Universal Music Publishing. The Justice Department has also requested documents from music licensing organizations, the American Society of Composers, Authors and Publishers and Broadcast Music, according to The Wall Street Journal. The Journal said the Justice Department is investigating Sony and Universal's efforts to withdraw their rights from the organizations' licensing agreements with Internet radio company Pandora. A U.S. District Judge found earlier this year that Sony and Universal coordinated with ASCAP to drive Pandora's licensing rates higher. TheStreet's Brittany Umar has details from New York.
Stocks in this video: SNEP
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