Why did the European Union investigate Universal Music Group's acquisition of Downtown Music?

The European Union investigated the acquisition due to concerns that Universal Music Group might gain access to commercially sensitive data from rival record labels.

What concessions did Universal Music Group offer to get EU approval for the Downtown Music acquisition?

Universal Music Group offered to sell Downtown's Curve royalty accounting platform as a concession to gain EU approval for the acquisition.

When is Universal Music Group's acquisition of Downtown Music expected to be completed?

The acquisition of Downtown Music by Universal Music Group is now expected to be completed in the coming weeks, following the EU's approval.

Home / Business and Economy / EU Greenlights UMG's $775M Music Deal Post-Concessions

EU Greenlights UMG's $775M Music Deal Post-Concessions

15 Feb

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Summary

European Union approved Universal Music Group's $775 million acquisition of Downtown Music.
Companies offered concessions, including selling Downtown's royalty accounting platform.
Concerns about Universal accessing rival labels' sensitive data were addressed.

EU Greenlights UMG's $775M Music Deal Post-Concessions

The European Union has given the green light to Universal Music Group's acquisition of Downtown Music for $775 million. This decision follows a protracted investigation by the bloc's competition officials, who had raised concerns about the potential for Universal to access commercially sensitive data belonging to rival record labels.

In December, Universal Music Group offered concessions to secure the EU's approval. The most significant concession involved the divestment of Downtown's Curve royalty accounting platform. This move aimed to assure regulators that sensitive industry data would not fall under the control of a dominant competitor.