EU Objects To UMG's Purchase Of EMI

EU Objects To UMG's Purchase Of EMI
Following news earlier this year that Universal Music Group will sell three of its publishing catalogs to help finance its November 2011 acquisition of EMI Music's recorded music division, the European Commission has reportedly released their objections to the label's $1.9 bid, according to a Reuters report. The commission is examining the proposed takeover, with some regulators expressing concern over the market power the combined group would have. UMG could potentially offer to sell additional catalogs or offer licensing details with better terms to rival online services to ensure the deal is approved. The commission is expected to make a decision by Sept. 6. (6/20)

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