European Court Annuls 2004 Sony-BMG Merger
Even though the European Commission okayed the merger of Sony and the Bertlesmann Music Group (BMG) in 2004, Europe's second-highest court—the Court of First Instance—annulled the merger on July 13. The decision came about because of a challenge from independent record labels that claimed the EU regulators shouldn't have approved the merger in the first place. This is the first time a European Commission decision has been overturned and it requires the commission to examine the complex merger again.