EMI and Time Warner's (TWX) Warner Music want to get together. Really bad. Continuing their ongoing battle with the European Commission to get approval for their $20 billion joint venture, the pair have offered some heavy last-minute concessions, including the sale of record labels and music publication interests.
According to a
story, an inside source said the record labels to be sold would most likely affect consumers in Spain, France and Denmark. This is the last chance for EMI/Warner Music to offer concessions because of a commission deadline.
Yesterday, EMI and Warner offered informal concessions to the commission, which has until October 18 to make its final ruling.