Universal Music Group (arguably the most successful of the Big 4) is attempting to acquire V2 Records, one of the last big indie holdouts in the UK. V2 Records UK is the home of At the Drive-In, Bloc Party, Carla Bruni, Grandaddy, Jenny Wilson, Lethal Bizzle, Little Man Tate, Madness, Powderfinger, Robyn, Stereophonics, The Black Keys, Underworld, and Zap Mama.
The Association of Independent Music (AIM) has moved to block the acquisition by petitioning the Office of Fair Trading. AIM is arguing that the estimated $14M buyout will irreparably harm the music industry, given its role in shaping the culture of a nation: not just in the production of a particular type of good or service. Additionally, AIM is arguing that the acquisition makes the industry less competitive as a whole and should be more closely examined by the government.
Check out the Telegraph's take here.
Monday, October 1, 2007
More Shady, Shady Monopoly Business
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