By Vanessa Mock
BRUSSELS--Universal Music Group won't seek an oral hearing with
the European Union regulators over its proposed acquisition of the
recording arm of EMI, people close to the matter said Thursday.
The music giant is expected to submit its response to a raft of
concerns from the European Commission Thursday and continue its
dialogue with the case team through the "unambiguous written
format," a person familiar with the situation said.
"Given the complexities of the case, it was felt it was not
sensible to go for an oral hearing," the person said.
People who have followed the proposed acquisition had expected
Universal, which is owned by Vivendi SA (VIV.FR), to seek the
closed-door hearing to challenge concerns set out by the commission
in a document nearly 200 pages long. Regulators have expressed
serious misgivings over the market power the new entity would
wield, both in the area of physical and digital music sales, in a
formal written complaint.
"UMG is submitting a full and detailed written response to the
European Commission and will continue to engage constructively with
the Commission to satisfy any remaining concerns," the company
said.
The company has until July 18 to put forward concessions,
although that deadline could be extended to Aug. 1.
Write to Vanessa Mock at vanessa.mock@dowjones.com