Federal Trade Commission, European Union Approve Universal-EMI Merger

Federal Trade Commission, European Union Approve Universal-EMI Merger

Yesterday, The Huffington Post reported that the Universal-EMI merger would be decided this week. The European Union, who are regulators in deciding the deal, approved Universal Music Group’s $1.9 billion deal of gaining EMI Music.

Although it was approved, the two companies still have to limit their market share. Billboard.biz lists all of the assets to be divested below. According to the EU, the total value will be 30 percent of EMI’s $1.6 billion revenue or $480 million.

As expected, it will sell Parlophone (minus the Beatles' catalog), Mute, Ensign and Chrysalis labels, EMI Classics, Virgin Classics, EMI's share of the "Now That's What I call music" compilations, and EMI units in France, Spain, Belgium, Denmark, the Czech Republic, Poland, Portugal, Sweden and Norway. Universal will also sell Sanctuary, Co-Op Music Ltd, King Island Roxystar, MPS Records, its share in Jazzland, and its Greek unit.

Update: The New York Times reports that the U.S.'s Federal Trade Commission has approved Universal Music Group's purchase of EMI.

[via Billboard.biz]

Tags: universal, emi
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