EU Says AOL, Time Warner Concede

Friday, September 8th 2000, 12:00 am
By: News On 6

BRUSSELS, Belgium (AP) — Internet giant America Online Inc. and Time Warner Inc. have offered unspecified concessions to the European Union to try to win approval for their planned combination, a spokeswoman said Friday.

EU hearings were conducted Wednesday and Thursday into the linkup between the two companies.

Amelia Torres, spokeswoman for competition Commissioner Mario Montes said no ``formal'' undertakings have been made regarding another linkup under investigation by the EU between Time Warner and music rival EMI Group.

Torres confirmed the discussions were continuing but declined to give details.

Both cases are also being investigated by U.S. antitrust authorities.

The main worries of the EU concern domination of the market for the digital delivery of music and the emerging markets for online distribution of sports and entertainment.

The commission has until Oct. 18 to rule on the Warner Music/EMI venture and six days longer to give its verdict on AOL's planned acquisition of Time Warner.