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EU: Apple’s Beats buy lands probe

By  |  June 25, 2014

The European Commission announced Wednesday it plans to examine Apple’s $3 billion acquisition of Beats Music to review potential competition concerns, reports say.

The authority set a deadline of July 30 to rule on the transaction. According to reports, regulators are concerned over the market strength of both Apple and Beats, but experts say the decision to review the deal is likely a formality as Beats faces significant music streaming competition, especially from Spotify.

In the US, the deal will either be reviewed by the Federal Trade Commission or Department of Justice. While Apple must file the merger notice with both authorities, it is currently unknown which will take the case.

Full content: Cult of Mac

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