Bertelsmann Pockets The Cash

Bertelsmann has announced that it’s pocketed the cash it got from selling half its share in Sony-BMG to its business partner, but its claim that the deal “has cleared all antitrust hurdles” looks a little wide of the mark.

IMPALA, the independent music companies’ organisation, is appealing the deal, although it’s also still appealing the fact the European Commission allowed the Japanese electronics giant and the German media conglomerate to get together in the first place.

The EC first allowed the merger in 2004; in 2006 the European Court Of First Instance said the decision was too hasty and told the EC to take a second look at it.

In June the EC – having taken a second look – reached the same conclusion it did the first time, although there’s nothing to say the Court Of First Instance will be any happier with the decision the second time around.

The EC has also approved the latest deal but the Court Of First Instance may not find favour with that decision.