The European Commission has approved the deal in which the Sony/ATV led consortium will acquire EMI Music Publishing. Confirming the deal had been approved in Europe, the EC's Competition Commissioner Joaquín Almunia said "[The consortium] offered to divest valuable and attractive catalogues containing bestselling titles as well as works of successful and promising authors. I am therefore satisfied that the competitive dynamics in the online music publishing business will be maintained so as to ensure consumer choice and cultural diversity". Martin Bandier said "Having spent over seventeen years of my professional life helping to build EMI Music Publishing, today is not only an important milestone on the path to final approval, but a very special day for me, personally". The EC approved the deal on the basis of the proposed sale of the Virgin-branded songs catalogue, plus the Famous UK catalogue and some key songs by prominent Anglo-American artists, which were designed to specifically deal with those EC concerns. Although the Sony/ATV deal still needs approval in the US, and is also being investigated in Australia and Brazil, securing approval in Europe with just a one-stage investigation is a considerable step forward for the deal. Not everyone is happy – commenting on the EC approval IMPALA’s Executive Chair Helen Smith told reporters: "It sounds like the worst possible result for European writers and publishers, as well as anyone who needs to rely on fair terms to access music
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