The European Commission (EC) confirmed Wednesday that it's reconvening a meeting of national competition regulators to discuss new concessions from Time Warner and EMI in their bid to get their planned merger approved.
EC spokesman Michael Tscherny said: "There will be another advisory committee meeting on Thursday."
Tscherny wouldn't confirm reports that the concessions include the sale of EMI’s Virgin Records and Warner's Chappell Music subsidiary.
A source close to the Commission said calling such a meeting is complicated and is only done if the concessions are deemed substantial enough to reverse the Commission's opinion on the deal. The Commission had indicated that it was on course to block the joint venture, because it was deemed to have a stranglehold on the European music industry.
When the EMI-Time Warner deal is tuned-down, or even blocked by the Commission, the regulators' concerns – that AOL Time Warner will dominate the online music business – will be removed.
A national regulator said: "If the Commission's problems with the EMI joint venture are resolved either way, then that removes the major impediment in the way of the Time Warner/AOL merger."
The Commission must rule on the EMI/Time Warner venture by October 18. The deadline for the AOL/Time Warner merger is October 24.