Don’t go jumping waterfalls / please keep to the lake
A textbook definition of delusions of self-importance?
.… the Commerce Commission in New Zealand earlier today invited interested parties to make submissions to its inquiry into Universal Music’s proposed takeover of the EMI record companies.
As reported here, the New Zealand Commerce Commission is to make a decision by May the 13th as to whether the EMI/Universal merger will be allowed to proceed. Now, unless you’ve been swimming underwater for the last six months or so, you are likely to be aware that the very large multi-national media corporation, Universal Music Group — headquartered in France — has decided it wishes to purchase the smaller multi-national media group, EMI — headquartered in the UK.
This may or may not go ahead.
The decision that decides this will likely be made in Brussels, at the European Commission (the US equivalent is more likely to green-stamp — anti-monopolistic law seemingly long dead in the water in the USA). It will not be made in New Zealand. Nothing that is considered or decided in New Zealand will have any bearing, nor will it even be noticed.
Maybe this is the Kim Il Dot Com effect — we think the world is watching (they’re really not, at least not beyond Kim).
And consider a couple of potentially ludicrous outcomes:
1. The NZ Commerce Commission says no merger. The EC says yes. Do the two companies really merge everywhere aside from New Zealand?
2. The NZ Commerce Commission says yes. The EC says no. The two merge fully — but only in New Zealand?
Perhaps they’re obliged to look at this — if so one could reasonably argue that law is ridiculously broken. Either way, it’s an extraordinary waste of New Zealand taxpayer money.
It’s also really embarrassing.