The merger of Sony Music and BMG has cleared its final regulatory hurdle, as the Federal Trade Commission (FTC) today (July 28) announced that it has closed its investigation into the proposed deal.

The merger of Sony Music and BMG has cleared its final regulatory hurdle, as the Federal Trade Commission (FTC) today (July 28) announced that it has closed its investigation into the proposed deal.

The FTC approved the deal without concessions. The Commission's probe had focused on whether the merger would substantially lessen competition in violation of Section 7 of the Clayton Act or Section 5 of the FTC Act.

The European Commission gave the merger the green light July 19. The deal could now close as early as this week or next, sources say.

Both companies have been notified of the Commission's action.

In a statement, BMG says, "We are pleased that both the European Commission and now the Federal Trade Commission have cleared our merger with Sony Music Entertainment. We thank both bodies for their diligent review. We now look forward to creating a global recorded music company comprising many of the world's most successful artists as well as a vast catalog of recordings. The company will be dedicated to developing and supporting an array of international as well as national artists."

Sony comments, "Now with regulatory approvals behind us, we look forward to establishing a dynamic new company that will be deeply dedicated to serving the needs of its artists, while at the same time enriching the lives of music lovers around the world."