TWX: EMI and Time Warner Offer Concessions to Get Deal Done - TheStreet

TWX: EMI and Time Warner Offer Concessions to Get Deal Done

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Will the

European Commission

approve the

EMI

(EMIPY)

/

Warner Music

(TWX)

joint venture? Still no official word, but the companies offered informal concessions to the commission in a meeting earlier today with European Union Competition Commissioner Mario Monti.

The road to approval for the $20 billion venture has been a bumpy one. Just

last week,

TheStreet.com

reported that EMI was hopeful the deal would go through, despite rumors that Monti had drafted an informal decision rejecting the bid. The companies will continue to negotiate until midnight Tuesday, which is the deadline for offering further concessions. Warner Music is a division of Time Warner.