Record Companies May Challenge Sony-BMG Merger

The Associated Press reports independent record companies threatened on Tuesday to go to court to challenge Sony and Bertelsmann’s creation of the world’s second largest music company after failing to convince European Union antitrust regulators to block the deal. The European Commission unconditionally approved the 50-50 joint venture between Japan’s Sony Music and BMG, the German media giant’s music unit, late Monday after finding insufficient evidence the deal would harm consumers.