Independent Labels Urge EU to Block Sony’s $2.3 Billion Bid for EMI

Independent Labels Urge EU to Block Sony’s $2.3 Billion Bid for EMI
Sony Corp's new President and Chief Executive Officer Kenichiro Yoshida attends a news conference on their business plan in Tokyo, Japan on May 22, 2018. Reuters/Toru Hanai
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BRUSSELS—Independent music labels group Impala has called on EU antitrust regulators to block Sony Corp’s bid to become the world’s largest music publisher with its $2.3 billion offer for control of EMI, saying the combination would have too much market power.

Sony announced the deal in May, the boldest strategy move by its new CEO Kenichiro Yoshida, which would give it rights to 2.1 million songs.