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Submitted: February 23, 2007 - 10:32am
Last updated: February 21, 2008 - 6:00am
Last updated: February 21, 2008 - 6:00am
RADIO, MUSIC MERGERS SHOW DIGITAL ARENA CROWED
[SOURCE: Reuters, AUTHOR: Sue Zeidler]
The urge to merge within both the recording and satellite radio industries this week reflects how tough it is to compete profitably within the evolving digital media market. Struggling satellite radio operators XM and Sirius announced a proposed $4.9 billion merger and Warner Music Group this week said it had approached Britain's EMI about a possible takeover bid in the latest twist in a seven-year mating saga between the two. The deals are seen as defensive reactions to an increasingly complicated digital entertainment market. Both potential corporate pairings face regulatory hurdles, but analysts and lawyers believe regulators may revise views that such combination would throttle competition.
http://www.reuters.com/article/internetNews/idUSN2236135820070222
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