The Edmund L Andrews of the New York Times reports:

   FRANKFURT, Sept. 29 - In an 11th-hour attempt to rescue their $20
   billion joint venture from rejection by European regulators, Time
   Warner and the EMI Group have offered to sell off EMI's Virgin record
   label to win approval, people close to the companies said today.

   It is by far the biggest compromise the companies have offered, and
   came one day after antitrust regulators at the European Commission
   had tentatively decided to prohibit the joint venture.

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