Europe Approves CDNow-Columbia House Merger

Proposed consolidation still being studied by U.S. government.

The European Union on Wednesday (Dec. 22) gave its regulatory approval for online music seller CDNow to merge with record club Columbia House, which is co-owned by Sony and Time Warner, Reuters reported. The proposed merger is still being looked at in the United States by the Federal Trade Commission. That study has prompted Sony (Pearl Jam, Bruce Springsteen) and Time Warner (Metallica, Rage Against the Machine) to begin settlement talks with the FTC, the Wall Street Journal said last week. The FTC wants the two conglomerates to end certain pricing practices before approving the merger.