EU clears Universal takeover of EMI with conditions

AFP
AFP21 September 2012
There were concerns that Universal and EMI combined would have too much power over terms for digital platforms

A man leaves an EMI Record company building in London in 2007. The European Commission on Friday cleared Universal's $1.9 billion takeover of EMI's iconic recorded music division after it agreed to sell substantial parts of the business to meet competition issues.

The European Commission on Friday cleared Universal's $1.9 billion takeover of EMI's iconic recorded music division after it agreed to sell substantial parts of the business to meet competition issues.

The Commission said the original deal had raised concerns that Universal with EMI would have had too much power over the terms it sets for digital platforms such as Spotify that distribute music direct to consumers.

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