Shares Rise on Merger Buzz

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Shares in Warner Music Group Corp. gained nearly 5 percent Tuesday as news of a possible merger between Warner and EMI Group Plc resurfaced, this time with better prospects for regulatory approval.


The two music giants backed off of merger talks last summer after a European court demanded that regulators reassess the merger that created Sony BMG Music Entertainment, the world’s second-largest music company.


Warner said in a filing that it re-approached the London-based label after obtaining the backing of the European trade group Independent Music Publishers and Labels Association, which many observers feel could turn the regulatory tide. No terms of the potential deal have been released and no official offer has been made, Warner said.

Shares in Warner closed up 4.9 percent (93 cents) to $19.15 Tuesday.

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