Canada Approves EMI Sale

Canada Approves EMI Sale
Following last month's news regarding the Japanese Fair Trade Commission's approval of Universal Music Group's proposed $1.9 billion acquisition of EMI Music's recorded music division, the Canadian Competition Bureau has become the third jurisdiction to approve the sale, according to a Billboard.biz report. The sale was first approved by the New Zealand Commerce Commission in June. The transaction is still under review by the European Commission, which is seeking divestment concessions from UMG before approving the deal, and the U.S. Federal Trade Commission. (8/21)    

Revenue Down Slightly For Australian Live Music Sector
Australia's live music industry generated $1.36 billion in revenue in 2011, a slight decrease from $1.38 billion generated in 2010, according to trade body Live Performance Australia's "Ticket Attendance & Revenue Survey 2011." Attendance grew 0.6 percent with contemporary music concerts remaining the largest sector, generating $539.2 million in revenue and accounting for 5.9 million ticket sales. Overall, more than 17.3 million concert tickets were sold in Australia in 2011. (8/21)

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