commiss decis octob declar concentr compat common market eea agreement case comp aol time warner notifi document number english text authent text eea relev ec commiss european commun regard treati establish european commun regard agreement european econom area articl thereof regard council regul eec decemb control concentr undertak amend regul ec articl thereof regard commiss decis june initi proceed case undertak concern opportun make view object rais commiss regard opinion advisori committe concentr april commiss receiv notif pursuant articl regul eec merger regul propos concentr america onlin aol merg mean articl merger regul time warner time warner creat entiti aol time warner decis june commiss found notifi concentr rais doubt compat common market decid initi proceed pursuant articl merger regul articl eea agreement hear place septemb basi statement object parti august parti aol aol publicli held compani incorpor delawar unit state america base dull virginia aol defin quot world leader interact servic web brand internet technolog commerc servic quot aol primarili provid internet onlin servic servic includ internet servic provid isp offer connect dial modem dial access offer rang content isp aol subscript fee base servic million subscrib worldwid june million year compuserv subscript fee base servic million subscrib worldwid compuserv offic target busi custom subscrib germani netscap onlin subscript free servic unit kingdom approxim subscrib total isp account million subscrib million europ aol offer instant messag servic aol instant messeng million regist user aol million activ user aol instant messeng activ user spend averag hour servic time log icq million regist user aol million activ user averag icq activ user icq connect hour dai activ minut dai internet servic offer aol aol netscap netcent lead internet portal local content network commun guid aol servic internet digit citi digit citi basic entertain visitor guid main citi aol moviefon largest line movi list guid ticket servic mapquest travel servic deliv map drive instruct line music distribut servic shoutcast spinner winamp servic quot publicli quot access internet user aol worldwid websit aol oper number joint ventur europ aol europ sa aol europ present joint ventur german media group bertelsmann ag bertelsmann isp servic european countri franc aol europ oper joint ventur aol bertelsmann french group vivendi telecommun subsidiari cegetel canal pai tv oper vivendi own control interest netscap onlin subscript free internet servic unit kingdom aol offer softwar includ netscap navig browser technic support consult train busi custom netscap enterpris group market jointli sun microsystem sun netscap allianc march aol bertelsmann enter year agreement govern term relationship content advertis light bertelsmann plan exit aol europ term agreement assess note bertelsmann number content busi includ clt ufa film televis programm produc pearson televis programm produc publish financi time bmg music arm joint ventur lyco lyco europ comondo offer internet access servic time warner time warner media entertain compani incorpor delawar unit state america headquart york time warner describ lead media compani world oper busi interest princip area cabl televis program consist princip interest cabl televis program network includ europ classic movi channel tnt cartoon network cnn new group time warner web page cnn world foremost new brand billion peopl worldwid access cnn servic time warner particip number european joint ventur time warner interest tv hour german languag televis new servic holtzbrinck minor share music choic europ oper cabl satellit deliv digit pai radio servic soni softwar corp bskyb univers emi soni warner establish german languag music video channel viva minor stake publish consist princip interest magazin book publish includ time peopl sport illustr warner book time life time warner magazin unit state orient distribut europ total time warner publish magazin million reader music consist princip interest record music music publish includ warner music group label atlant elektra rhino sire warner brother record warner music intern warner chappel music publish busi time warner sharehold cdnow music commerc site control soni film entertain consist princip interest film entertain televis product televis broadcast includ warner brother studio line cinema wb network europ warner brother oper film product distribut distribut televis program home video product cinema number joint ventur warner brother product distribut agreement polygram hold part univers canal ufa clt cabl network consist princip interest cabl televis system locat unit state america europ time warner lead cabl oper unit state america million subscrib million home pass time warner own part road runner line servic joint ventur internet access offer content cabl system provid broad band servic road runner oper europ ii oper transact structur aol time warner merg newli creat subsidiari newli form hold compani aol time warner result merger aol time warner wholli own subsidiari aol time warner consumm merger aol sharehold receiv aol time warner share time warner sharehold receiv remain initi board director aol time warner consist member appoint aol time warner notifi oper lead concentr mean articl merger regul iii commun dimens combin worldwid turnov undertak concern eur billion aol eur million time warner eur million aggreg eea wide turnov excess eur million aol eur time warner eur achiev third aggreg eea wide turnov member state notifi oper commun dimens mean articl merger regul iv competit assess relev market line music narrow band content line music busi involv activ download music download form distribut music consum internet technolog permit electron transfer entir music file devic playback allow result music download file remain person devic perman copi oppos transient section stream music download base distribut digit music file confus tail involv physic sale sale physic good cd internet music product suit line distribut digit product low bandwidth requir parti download music constitut separ market opinion form part larger market record music claim download music substitut music distribut physic carrier contrast maintain number signific differ make download music busi model separ market demand side consum access bui receiv music immedi commerc wait cd order comput internet access visit store matter time locat download individu track bui entir album singl creat customis compil hardwar special softwar plai music download suppli side structur line distribut download music complet physic distribut music brick mortar shop commerc music download involv manufactur wareh physic sale distribut differ make download physic cd complet separ product market addit download cd price structur price volum cd decreas result offer music download present case parti provid empir evid show price music distribut physic carrier restrain price download price physic cd result offer music download conclud emerg separ market download music stream stream audio method transmit audio internet stream audio system transform comput virtual jukebox user quot click quot link audio file begin plai second main differ download stream music file transmit comput store local access directli recipi comput audio file temporarili transfer user plai devic consum access stream file store central quot locker quot access uniqu password consum access locker internet enabl devic aol offer site call shoutcast stream audio system winamp player user creat line music program listen programm creat user stream present gener free charg financ internet advertis revenu expect user charg stream futur mention context licens agreement time warner bertelsmann internet music compani mp announc plan launch subscript music servic internet system base subscript fee paid user locker compani offer music download stream internet obtain licens secur copyright requir connect music composit copyright holder consent essenti line exploit music composit case author compos assign right publish publish author publish power decid right assign condit licens piec music record compani publish decid record compani distribut licens piec work internet publish refus grant quot line quot distribut make subject payment addit licens fee secur copyright logic legal step pre condit line exploit music internet compani hold domin posit market licens music publish right requir line deliveri posit plai gatekeep role dictat condit deliveri music internet refus licens threaten withhold right conclus conclud emerg market line music deliveri purpos present assess unnecessari decid music download stream constitut separ product market transact event lead creation domin posit geograph dimens market line music deliveri possibl offer digit technolog impli geograph market definit extend nation border eea event investig carri commiss show transact give rise domin market consid global scope question determin exact geograph scope market left open music player music download stream gener reli technolog compress decompress compress music fast deliveri internet decompress playback compress reduc size digit music file amount inform bit transmit electron meaning loss sound qualiti compress make music deliveri faster increas storag capac present compress file produc sound qualiti virtual cd number compani develop compress decompress algorithm codec music file popular compress format mp develop fraunhof institut popular format window media audio develop microsoft develop real network aac develop fraunhof institut soni amp dolbi laboratori licens dolbi atrac develop soni encrypt decrypt secur digit download quot scrambl quot digit file read proper decrypt softwar compani oper area audiosoft ibm intel mjuic microsoft gener compani provid technolog digit right manag compani digit right manag drm help manag process transfer audio file sourc recipi drm softwar manag transfer song download verifi receipt creat record transact drm technolog interoper encrypt technolog encrypt drm system prevent unauthoris access content popular drm system liquid audio develop liquid audio mjuic develop artist direct window media audio develop microsoft intertrust develop intertrust ibm emm develop ibm record compani format song mixtur compress encrypt drm technolog format audio file download stream user plai pc music player softwar devic incorpor pc final plai audio file user interfac graphic screen user interact oper basic control plai music plai volum stop digit file plai back step softwar modul call input plug decod audio file technic file convert quot raw quot digit audio data sound qualiti adjust softwar modul output plug plai music player softwar interoper actual compress technolog file drm technolog encrypt technolog technolog player softwar support music plai player softwar develop interest licens technolog popular player realplay develop real network microsoft media player develop microsoft winamp develop nullsoft compani acquir aol quicktim develop appl musicmatch jukebox develop musicmatch softwar product free internet price pai price music match jukebox usd download music transfer burnt physic carrier record cd sound card minidisk market suppli player softwar geograph scope player softwar market global languag file menu text music player easili chang suit multitud languag winamp free languag pack websit compani consult express view impact languag minim localis player softwar adapt softwar local market common simpl accomplish internet dial access narrow band access telia telenor commiss identifi demand suppli internet access servic distinguish dial dedic access dedic access user connect isp dedic fix line cabl link dial access user connect normal pstn line demand point view type access separ product market dial access target residenti busi small medium enterpris custom dedic access request larg corpor custom bt esat emerg market investig dial access distinguish residenti busi larg compani dial access provid basi sophist dial mechan stage unnecessari establish residenti busi dial access constitut separ relev product market transact event lead creation domin posit isp market common view geograph market isp dial servic essenti nation base local loop servic telia telenor commiss conclud characterist limit extent exist access market wider nation conclus valid present case relev geograph market held member state aol oper belgium germani spain franc itali netherland austria sweden unit kingdom paid content music broad band content commiss defin market paid content telia telenor schibst investig commiss found evid exist emerg demand stop integr suppli broad band content internet demand bundl audio video content film sport contest pop music concert internet appear separ demand film tv programm suppli tradit distribut channel pai view video demand dvd video rental broad band content substitut complementari good isp offer rang content compar supermarket offer wide rang complementari product singl place market encompass content categori geograph scope market hand due linguist requir nation audienc film tv program market pai tv equival nation hand offer film internet focus film programm cartoon intern appeal popular eea countri purpos present assess decid exist separ product market integr suppli broad band content conclud transact give rise creation domin posit area broad band internet access inquiri commiss found evid exist develop demand provis residenti broad band internet access broad band access high speed internet access deliv greater audio visual function dial narrow band access includ stream video audio video mail interact advertis video conferenc deliv effect tradit narrow band line broad band access wide europ gener expens dial access latest gener broad band altern digit subscrib line dsl cabl modem dsl technolog exist telephon network wire deliv digit connect dsl share wire path convent telephon line user receiv high speed servic convent telephon servic wire dsl singl data channel dedic point point circuit connect home isp cabl modem deliv multi megabit speed local cabl tv network market broad band internet servic appear essenti nation base instal physic connect telephon line dsl cabl cabl modem custom isp purpos assess conclud exist separ broad band internet access market dsl cabl form fast internet access belong relev product market market nation consider conclus reach transact give rise creation domin posit area assess introduct relationship aol bertelsmann aol bertelsmann german media compani partner begin commercialis internet establish joint ventur aol europ permit aol expans europ addit aol bertelsmann vivendi joint ventur franc march aol bertelsmann enter joint promot distribut sale agreement parti main oblig agreement summaris bertelsmann oblig bertelsmann spend advertis aol year receiv prefer term advertis bertelsmann promot gener subscrib aol europ bertelsmann promot success foreseen bertelsmann prevent market isp shortfal remedi bertelsmann suppli aol content prefer term aol oblig aol enter negoti bertelsmann affili commerc retail barn amp nobl bertelsmann onlin bol structur commerc relationship commerc partner mean compani line retail receiv preferenti placement anchor tenanc mean perman presenc mean logo advertis visitor directli advertis websit aol page aol enter negoti number bertelsmann web properti busi offer promot final aol negoti good faith bertelsmann approach aol agreement carri promot line retail book music specif aol properti anchor tenanc banner advertis shorter period time mutual oblig aol bertelsmann agre exchang promot barter year mean aol provid packag line promot bertelsmann exchang packag line line tv radio print promot provid bertelsmann aol merg time warner aol bertelsmann commit engag addit cross promot final aol bertelsmann agre work ensur bertelsmann music format playabl aol winamp player softwar agreement bertelsmann commerci reason effort ensur drm system compat readi aol media player altern agreement aol decid reformat system bertelsmann content compat player bertelsmann commerci reason bertelsmann permit aol cooper aol effort conclus commiss opinion structur link lesser extent contractu link aol bertelsmann give bertelsmann strong incent appoint aol prefer content carrier make content preferenti aol account assess posit aol time warner market line deliveri music market share bertelsmann ad time warner market perform mechan right measur market power enjoi entiti time warner emi transact factor januari time warner emi conclud agreement involv combin record music music publish busi deal abandon line music aol time warner control time warner publish right joint ventur lesser extent agreement bertelsmann aol access bertelsmann music librari right result arrang aol secur access lead sourc music publish right time warner bertelsmann account approxim music publish right mechan perform right eea time warner bertelsmann largest publish emi perform right mechan right univers mechan right perform right soni substanti right categori spain germani netherland itali combin market share nordic area greec portug combin market share rang entiti control sizeabl music catalogu exercis substanti market power refus licens right threaten licens impos high discriminatori price unfair commerci condit custom wish acquir right internet retail offer music download stream parti contest reason opinion rest fundament misunderstand aol bertelsmann relationship parti maintain agreement bertelsmann exclus basi preclud control aol bertelsmann music commiss share parti point view commiss opinion financi interest aol europ joint ventur franc bertelsmann econom incent cooper aol parti commiss fail account role collect societi parti circumst collect societi publish control right authoris internet exploit music right grant control collect societi music publish withdraw line publish right collect societi order withdraw right work obtain consent author turn withdraw right collect societi practic profit commiss found unclear music busi collect societi publish control exploit line music right assum collect societi control right legal barrier publish withdraw categori right collect societi quot categori quot quot form utilis quot defin gema gema ii decis mean withdraw mechan perform right place applic rule show member state except unit kingdom ireland authoris writer compos need publish withdraw right collect societi writer compos convinc withdraw right econom benefici digit internet environ commiss found exercis right holder exclus authoris prohibit commun public copyright work wire wireless mean rais possibl domin publish exercis greater market power licens work digit mean compar tradit music publish environ aol set busi distribut music internet exist busi market investig carri commiss critic mass music content control entiti aol internet distribut strength usa compet music label feel compel join aol aol largest isp world largest isp usa aol reli instant messag commun icq instant messeng account million regist potenti user million regular user addit aol visit portal websit unit state america million uniqu visitor isp displai formid line distribut network attract content aol isp retain attent user longer period gener refer sticki record compani sell intern pop music definit worldwid appeal order achiev maximum distribut product secur distribut aol quot line outlet quot aol posit charg supra competit price carriag content restrict access line music market favour time warner bertelsmann degrad qualiti access compet content provid addit commiss market investig shown combin entiti posit dictat technic standard descript relev technolog music player devic deliv music internet stress aol pre merger document refer recit mission time warner aol deal ensur mass adopt digit download deliveri standard document music strategi complement polici strateg acquisit result commiss market investig achiev develop acquir open proprietari format technolog download stream time warner track releas music proprietari code format entiti prevent huge music content download stream compet technolog breadth time warner bertelsmann publish right popular catalogu aol internet field huge internet commun entiti posit impos technolog format languag industri standard entiti threaten licens technolog forc develop music player support compet technolog compet record compani wish distribut music line requir format music entiti technolog control relev technolog entiti posit control download music stream internet rais competitor cost excess licens fee entiti lever aol internet distribut strength unit state america order impos proprietari technolog entiti accept distribut product compet label intern pop record sold worldwid condit label adopt technolog record compani readi pai high price access aol parti maintain entiti power incent pursu exclus format strategi addit field domin establish found competitor includ microsoft intel ibm soni fraunhof institut amp entiti put formid resist attempt entiti develop impos open proprietari format commiss consid argument dismiss competitor except soni vertic integr control music publish right soni size music librari averag music publish right compar entiti commiss consid soni music librari suffici larg permit soni impos format strategi note soni develop proprietari compress format atrac industri standard compet number format conclus commiss consid entiti domin market line music music player commiss market investig shown combin entiti develop proprietari technolog altern decid format time warner music make compat winamp music player plai music aol reformat bertelsmann music make compat winamp mention earlier bertelsmann contractu oblig ensur music format playabl winamp altern agreement aol decid reformat bertelsmann content make compat player expens bertelsmann commerci reason bertelsmann bertelsmann cooper aol effort winamp support format technolog mp wma compet record compani releas music music result winamp music player world plai virtual music internet record compani incent format music proprietari standard music player softwar aol winamp line music distribut network compar aol critic mass term back catalogu refus licens technolog entiti impos winamp domin music player player decod proprietari format time warner bertelsmann music technic limit compet music player exert competit constraint price winamp result transact entiti control domin player softwar charg supra competit price parti maintain strategi base reformat music make compat winamp commerci disast maintain latest statist winamp reach music listen line popular player real microsoft media player quicktim commerci interest time warner bertelsmann releas music format playabl winamp reach line music audienc commiss opinion fact winamp aol websit quot leader internet music quot reach limit number listen compet player irrelev assum aol reformat time warner bertelsmann music music player freeli easili download pc support player kei success player abil plai widest rang music present case music catalogu reformat aol drive line listen winamp revers internet user want download song time warner artist time ask download winamp shortli popular player world parti note winamp signific proprietari technolog core technolog compon unaffili parti repli argument prevent entiti develop licens proprietari format aol enter agreement intertrust intertrust drm system agreement intertrust statu prefer technolog provid aol basi develop proprietari technolog conclud entiti domin market music softwar internet dial access aol posit unit state america busi model aol main isp unit state america parti market aol growth model unit state america partli base uniqu featur aol aol offer larg amount easi content provid portal access content lodg internet part content relat servic forum magazin chat board refer databas new servic offer aol proprietari access subscrib gener internet public aol size unit state america allow acquir content preferenti basi evidenc deal bertelsmann aol content relat servic combin huge subscrib base creat network effect depriv subscrib incent abandon aol newcom join aol commun interact larg internet commun network effect work wai subscrib bring content vice versa aol servic quot wall garden quot quot stop shop quot gener internet user impress find larg number servic content offer aol homepag exclus aol user click hyperlink enter cul de sac access affili servic kei extern content aol custom guid content compet aggress aol breadth aol servic content give rise consider switch inertia user tend identifi aol internet compet site content aol acquir bigger commun user reason subscrib abandon aol wall garden reason potenti internet user join aol context distinct drawn passiv activ internet user inexperienc user tend stai aol click hyperlink displai aol contrast activ internet user experienc user specif piec inform find internet present bob pitman aol chief execut offic evid show aol subscrib spend consider amount surf time aol sticki show passiv user repres major aol custom aol commiss misunderstand aol busi model aol wall garden give onlin subscrib unrestrict abil access internet content choic includ compet web site product content affili promot connect aol aol claim strategi restrict subscrib access aol content destruct aol lose custom advertis promot revenu survei attach aol repli commiss statement object show relev content view line usag exclud chat mail aol user spend signific part time aol commiss consid survei mislead time spent user aol site network time aol flatli contradict aol intern document present bob pitmann refer recit quot content peopl wall aol signific part usag smaller part internet larg great differenti straight isp servic sort hook internet usag internet larg content quot wall garden commiss found gener aol user tend surf internet navig tool displai aol page link parti web site search engin type address site context reiter basic internet connect aol aggreg packag content internet benefit custom servic similar provid editor compil arrang materi written accomplish editori task aol sell promot leas shop area network content provid contract conclud aol restrict claus prohibit promot link websit aol network sale product compet aol result restrict aol user aol network impress surf internet restrict aol lack econom incent engag exclusionari conduct commiss note parti argument focus scenario aol absolut refus carri compet parti content aol disregard realist scenario aol accept carri unaffili content discriminatori term commiss consid vertic integr time warner content aol internet servic chang aol incent set access price unaffili content provid merger aol account deal parti content provid impact competit time warner profit aol incent toughen term trade increas price access order protect time warner profit compens time warner reduc revenu competit aol posit europ european internet dial market larg domin incumb telephon compani control local loop aol isp presenc major member state largest isp franc germani unit kingdom parti market posit aol affili basi number custom main market franc aol compuserv aol largest isp wanadoo own franc telecom market share germani aol compuserv aol largest isp onlin own deutsch telecom stress aol market posit enhanc fact partner bertelsmann own aol europ joint control lyco europ comundo dial access isp lyco europ share german market netherland aol compuserv make eighth largest isp unit kingdom recit europ internet penetr averag unit state america due fact unit state america internet access usag cheaper europ local call gener meter unit state america local call charg unmet isp financ oper earn flat rate subscript subscrib internet advertis revenu incom sell advertis space websit commerc commiss share price item sold webpag access hyperlink isp site internet europ pois fall cost access facilit unbundl local loop telecommun promot unmet access local loop unbundl competitor oper build compet local loop infrastructur compet incumb telecom oper fall cost access content crucial factor determin isp competit aol posit unit kingdom unlik franc germani domin isp pai isp control incumb telecom oper unit kingdom internet market characteris presenc number subscript free isp term custom number lead isp freeserv latest market figur term activ subscrib june main market player freeserv aol aol uk netscap line compuserv line virgin net breath onlin bt internet assess isp market posit refer number subscrib mislead occasion internet user subscrib subscript free isp rare gener interconnect revenu altern method measur market posit isp basi revenu parti provid market share revenu basi isp public compani publish result market share calcul basi aol market share larger freeserv largest unit kingdom freeserv internet dial revenu interconnect revenu gbp million year aol gross internet dial revenu gbp interconnect revenu subscript fee net revenu subscript fee net network cost aol pai local telephon oper gbp aol revenu time higher freeserv aol revenu higher sum internet revenu main competitor freeserv line virgin net subscrib unit kingdom market share calcul basi internet revenu aol consid largest internet dial access provid born mind contrari maintain parti market share analysi base revenu unpreced telia telenor commiss calcul market share internet dial market term revenu number subscrib basi subscrib aol sole leader market share aol uk compuserv freeserv enter market septemb freeserv success due fact unlik aol offer subscript free internet access subscrib pai telephon call contribut drive cost usag internet freeserv short oper histori fragil financi situat april freeserv incur net loss approxim gbp million oper loss gbp million recent analyst forecast freeserv incur pre tax loss gbp million compar previou estim gbp million freeserv precari financi situat bad result cast doubt futur viabil credibl competitor larger financi stronger multimarket compani aol gener financi analyst call question sound quot free quot internet access busi model born mind connect unit kingdom free internet access provid lineon virginnet recent cancel delai access offer face exclud unit kingdom unit state subscript base internet access model prevail futur environ subscript base internet access isp justifi subscript fee offer attract content succe confirm recent report jupit commun state quot aol continu king content portal isp averag minut consum dai deserv aol high qualiti content commerc offer quot unlik competitor proprietari content aol bundl time warner bertelsmann huge music content portfolio internet access proprietari servic give subscrib exclus preferenti access content aol subscrib possibl access time warner music month aol subscrib critic mass content coupl aol internet distribut strength usa act magnet attract content aol quot line store essenti facil quot music substanti attract rachet effect draw subscrib aol investig commiss found music popular sought element internet content number possibl promot aol internet dial servic time warner content aol offer attract internet music packag music promot tool loss leader subscrib aol time warner bertelsmann music free month subscrib listen popular artist album releas public music easili distribut line narrow band connect digit product low bandwidth requir core target audienc similar core group internet user aol line music platform attract suffici subscrib attain domin posit internet dial access market aol adapt time warner bertelsmann cd carri aol softwar encourag consum regist aol aol free note context aol bertelsmann agreement promot tool bertelsmann achiev subscrib target set recit provid aol opportun burn softwar bertelsmann cd dvd cd rom includ sticker flier materi promot integr aol softwar parti maintain aol busi model alter merger time warner aol time warner state intend pursu strategi exclus promot distribut time warner music aol parti claim promot revenu gener broad promot distribut outstrip gain achiev exclus fulfil opportun lost sale realis portion music offer sale promot sale recoup substanti increas sale promot content lost quot viewership quot subscrib caus promot popular music factor profit combin aol time warner plung exclus model result aol current promot model broad promot distribut gener greater profit compet exclus distribut model commiss opinion aol analysi base static view music distribut market factor synergi brought merger parti reason account fact critic mass music content aol websit time warner bertelsmann attract music record compani librari content distribut network compet record compani feel oblig joint aol end access music parti fail account aol promot time warner bertelsmann music exclus preferenti aol deni access content charg supra competit price isp attract internet subscrib increas aol import carrier compet content provid final born mind develop proprietari technolog format music deliveri internet suffic chang aol busi model conclud transact lead creation domin posit dial internet market unit kingdom possibl negat result impact remedi parti music broad band content film tv program notifi transact involv inter alia vertic integr time warner film televis librari aol internet network line distribut servic entiti vertic integr broad band content provid commiss opinion compani bundl broad band internet access vast arrai attract broad band content music consider competit advantag integr content provid firm suppli limit rang content procedur number concern express possibl aol lever domin posit unit state america eea aol largest isp largest internet commun world undisput leader unit state america isp presenc european countri aol instant messag servic constitut formid distribut tool network potenti approxim million user im icq permit simultan audio file share user im icq user watch time warner film chat simultan film form chat room fan club promot content discuss messag commun implement loyalti programm send time warner film user receiv discount stream film result transact aol access broad band cabl infrastructur time warner lead cabl oper unit state america reach formid custom base instant messag commun commiss market investig shown parti intern media entertain compani market product worldwid access aol unit state america order secur maximum distribut content order dispel doubt respect parti commit year complet aol time warner merger aol agre condit enter content carriag deal onlin servic requir content provid enter content carriag arrang aol affili isp eea commiss note commit time warner content warner brother signific posit supplier content market major hollywood studio market share film produc depend number hit year warner brother term film box offic europ market share year warner brother success studio warner brother led time warner extens english languag tv programm librari number worldwid hit er friend eea time warner uniqu domin supplier broad band content time warner market share tv programm product broadcast eea countri background conclud combin time warner aol lead creation domin posit market broad band content eea internet broad band access time warner vast arrai video film properti cnn warner brother film librari ideal suit distribut high speed internet connect entiti lever time warner broad band content emerg high speed internet access market europ end aol content loss leader bundl content aol subscript aol time warner transmiss infrastructur europ characteris presenc establish incumb cabl telephon compani time warner own larg cabl infrastructur unit state approxim million subscrib serv group end interest european cabl system start point commiss examin consid credibl basi conclud forese futur entiti domin emerg broad band market eea transact give rise domin posit area undertak propos parti order resolv competit concern identifi commiss parti submit undertak septemb propos undertak summaris parti put place mechan pursuant bertelsmann progress exit aol europ sa aol europ aol compuserv franc sa aol franc parti put place measur exit complet ensur bertelsmann exercis control aol europ aol franc afford arm length treatment aol aol europ bertelsmann renounc contractu veto consent approv right aol franc agre exercis right aol behalf direct ii aol caus aol europ issu share equal aol europ stock investor control affili bertelsmann ag issuanc reduc bertelsmann ag sharehold vote right iii aol undertak ceo aol europ aol franc affili aol europ remain unaffili bertelsmann iv aol time warner action result bertelsmann music line exclus aol format proprietari format playabl exclus aol music player aol time warner requir bertelsmann exclus promot aol isp servic vi aol action ensur bertelsmann exercis oper control neg control aol europ aol franc mean ec merger regul aol undertaken forego right market agreement bertelsmann aol exercis right market agreement reformat bertelsmann music content make compat aol media player manner promot favour format licens parti reason commerci term ii aol enforc provis market agreement prohibit bertelsmann promot parti isp independ complianc monitor appoint ensur complianc aol time warner undertak bertelsmann bertelsmann exit aol europ aol compuserv franc vi assess propos undertak commiss examin propos mechan recit point consid permit sever structur link aol bertelsmann time prevent entiti access lead sourc publish right line exploit music internet prevent emerg domin posit line music music player internet dial market interim measur point monitor exercis provid suffici guarante bertelsmann exit aol europ aol franc relationship bertelsmann aol arm length conclus commiss consid parti final propos remedi remov identifi competit concern rais transact eea adopt decis articl concentr america onlin merg time warner mean articl regul eec subject full complianc final propos undertak submit parti set annex compat common market function eea agreement articl decis address america onlin aol dull va unit state america fax time warner rockefel plaza york ny unit state america fax brussel octob commiss mario monti member commiss oj correct version oj oj oj aol press releas announc fourth quarter financi result part text edit ensur confidenti inform disclos part enclos bracket mark asterisk servic user track friend colleagu line send instant messag conduct real time chat user instant messag quicker mail unlik mail enabl user user line instant convers time warner own time warner entertain compani lp time warner remain time warner own mediaon limit partner parent compani agre merg amp corp exampl compani sell download internet cdnow musicmak music publish consist inter alia acquisit right music work subsequ exploit remuner form commiss charg publish author revenu gener commerci exploit music work quot publish quot take place author promot licens administ work profession publish articl entitl quot mp quot glyn moodi scientist june winamp download dai domin music player field commiss decis case iv telia telenor commiss decis case comp bt esat commiss decis case jv commiss decis ec case iv tp oj point mechan right licens reproduct protect music work mechan mean cd md record compani perform right licens public perform protect music work commerci user televis radio cabl satellit station concert organis disco hotel restaur right licens line exploit music work internet publish control publish right eea countri control exploit line music work countri commiss decis ec case iv gema oj commiss decis ec case iv gema oj uniqu visitor mean estim number individu access specif site total number project individu media matrix quot internet rough guid quot angu kennedi quot setback cast doubt free net access quot chri ayr time juli report jupit commun quot competit landscap uk market fourth quarter quot european audiovisu observatori statist yearbook born mind time warner market share mechan perform right member state higher annex commit articl regul eec connect merger america onlin aol time warner time warner aol time warner make undertak pursuant articl merger regul subject commiss find merger aol time warner compat common market pursuant articl merger regul aol europ share issuanc dilut bertelsmann pursuant aol right put call agreement bertelsmann ag bertelsmann date march month adopt commiss decis bertelsmann sell stake aol europ sa aol europ aol aol europ issu share equal aol europ stock issu outstand issuanc investor control affili bertelsmann ag interim measur bertelsmann exit aol europ aol compuserv franc subject complet merger time warner aol time warner agre time bertelsmann ag exit aol europ aol compuserv franc sa aol time warner action result bertelsmann music line exclus aol format proprietari format playabl exclus aol music player ii event aol seek appoint ceo aol europ affili ceo affili bertelsmann iii aol time warner requir bertelsmann exclus promot aol isp servic iv aol action ensur bertelsmann exercis decis influenc neg control aol europ aol compuserv franc sa mean ec merger regul aol bertelsmann put place mechan bertelsmann progress exit aol europ french joint ventur aol compuserv bertelsmann market agreement pursuant interact servic market agreement aol aol europ bertelsmann date march market agreement complet aol time warner merger aol undertak order permit bertelsmann promot parti isp complet aol time warner merger aol inform bertelsmann enforc section exhibit market agreement prevent bertelsmann promot parti isp subscrib target discuss section agreement met aol inform bertelsmann exercis section exhibit market agreement reformat bertelsmann content make compat aol media player manner promot favor format licens parti fair discriminatori term independ complianc monitor provis week commiss adopt decis authoris aol time warner merger aol time warner propos name independ experienc individu serv independ complianc monitor commiss select propos name serv independ complianc monitor propos fulli document justifi independ experi nomine commiss reject name requisit independ experi event commiss reject name commiss select independ experienc individu independ complianc monitor aol time warner appoint independ complianc monitor work dai commiss approv submit copi sign agreement independ complianc monitor includ written mandat duti respons mandat describ task independ complianc monitor condit replac independ complianc monitor discharg independ complianc monitor report oblig remuner mandat approv commiss parti amend draft commiss request chang mandat reason request commiss independ complianc monitor term mandat independ complianc monitor properli exert function monitor complianc paragraph undertak bertlesmann undertak independ complianc monitor serv time bertelsmann exit aol europ aol compuserv franc sa ensur complianc aol time warner bertlesmann undertak independ complianc monitor measur ensur bertlesmann undertak respect aol time warner aol time warner reason measur order independ complianc monitor compli bertlesmann undertak time period set aol time warner provid independ complianc monitor assist inform independ complianc monitor requir independ complianc monitor provid month written report english commiss progress discharg mandat identifi respect unabl discharg mandat aol time warner receiv simultan confidenti copi report independ complianc monitor time provid commiss request written oral report matter fall independ complianc monitor mandat aol time warner receiv simultan confidenti copi report