Senator Mike Lee (R-UT), ranking member of the Senate Judiciary Committee's Antitrust, Competition Policy, and Consumer Rights subcommittee, today released the following statement regarding the Federal Trade Commission's decision on the merger of recording labels Universal Music Group and EMI.
"I am satisfied with the FTC's decision to allow Universal Music Group's acquisition of recording label EMI. In dynamic markets such as this one, in which innovation is constantly changing the means of production and distribution of music, government regulators must be careful not to intervene without evidence that a merger will harm consumers. The FTC's decision appears to be fact-based, well-reasoned, and focused on consumer welfare. I trust that the acquisition of EMI will enable Universal's labels and artists to continue recording, producing and distributing great music at a fair price."