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AOL/TWX: Time Warner Trying to Get AOL and EMI Deals Done

The

European Commission

is considering last-minute concessions offered by

Time Warner

(TWX)

and

TheStreet Recommends

EMI

in an effort to win approval for the merger of EMI Group's music operations with Time Warner's Warner Music, a commission source said.

EMI is offering to divest some of its labels in France, Spain and Denmark, where it has high market shares, as well as sell some music publishers.

Also, Federal regulators in the U.S. are questioning some regional phone companies about whether the proposed

America Online

(AOL)

merger with Time Warner threatens plans to deliver AOL service through rivals' high-speed phone lines.