Apple Faces Antitrust Inquiry

Apple Faces Antitrust Inquiry
Apple is in the preliminary stages of a Department of Justice antitrust inquiry reviewing the company's online digital music tactics. The investigation will examine recent allegations that Apple used its dominant market position to persuade labels to refuse online retailer Amazon.com the right to exclusively sell new music on its Web site. Apple is the top seller of online music in the United States, with 69 percent of the share, and the largest music retailer, with 26.7 percent of the overall market, according to NPD Group. (5/26)

Chrysalis Reports Profit
UK music publisher Chrysalis Music has reported a 15 percent increase in royalty income to $10.8 million for the first half of the fiscal year ending March 31. Normalized operating profit rose 54 percent to $3.7 million, due to increased royalties from the Beatles remastered catalog, and revenue was up 2.1 percent to $47.1 million. The company also announced its recent acquisition of music publishing company First State Media Group. (5/26)
 

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