There have been a number of press releases this morning issued by the CMA regarding the investigation into our industry…
Firstly, two suppliers have been fined for breaching Competition Rules:
Secondly, the CMA have written a letter for all the industry to read concerning Competition Rules and have written fresh letters to 70 companies in our industry:
Thirdly, there is specific news concerning a particular Supplier and a particular Retailer in relation to the entire investigation into the music industry. You can read the press release here
There is clearly some dramatic news in all of the above and we all need time to reflect on next steps as an industry. We are talking with the CMA (as we have been since the investigation started) and will bring you an update shortly to help us all move forward.