Our very favourite pan-European independent record label body, IMPALA, has welcomed that announcement last week that the European Commission has started reassessing the case for the merger that created major record company SonyBMG. As previously reported, officials at the Commission have been forced to reassess the merger of Sony and Bertelsmann's recorded music businesses, which they originally approved in 2004, after the European Courts last year ruled that they should not have originally given approval based on the evidence available to them at the time.
That ruling was made last July following legal action against the original decision by IMPALA. Bosses at the trade body had subsequently become increasingly impatient that the Commission had not set a timescale for its re-review of Sony and BMG's merger proposals, lodging a complaint over "excessive delays" last year. Commission chiefs have now said the re-review is underway, with a provisional deadline set for reaching a conclusion on 1 Mar.
Welcoming that commitment, IMPALA Chairman and Beggars Group President Martin Mills said on Friday: "We have been contributing to the Commission's investigation and will continue to do so, to ensure that the problems identified by the court are properly resolved. This is essential for artists and music fans alike".
The trade body's President, Patrick Zelnik, also CEO of Naive Music, added: "The majors and the Commission must work together with the independents to find a solution to the structural and competitive problems facing the whole industry. The challenge is to empower the independent sector and respond to the industry's crisis through market access, innovation and diversity".