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EU Imposes Massive Fine On TV Producers

Associated Press | by Raf Casert

European Union’s antitrust chief slapped the biggest ever cartel fine — over €1.47 billion ($1.96 billion) — on seven companies for allegedly rigging the international market of television and computer monitor tubes. The EU’s Commission ruled that, for a decade ending in 2006, the companies — including Philips, LG Electronics and Panasonic — artificially set prices, shared markets and restricted their output.