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Will Universal Musics Downtown Deal Face EU Scrutiny? Indie Music Groups Sure Hope So
2025-04-20 16:45:04| Spiritual Career Counseling
Universal Music Groups planned $775 million acquisition of Downtown Music Holdings, the parent company of independent distributors Fuga and CD Baby, could face European Union (EU) scrutiny after the Dutch regulator made a referral request for a competition inquiry. The European Commission, the main executive body of the EU, has not announced any official decision on the topic though.Universal (UMG)s proposed takeover of Downtown via the music majors Virgin Music unit is part of the companys consolidation strategy. When the transaction was unveiled in December, UMG said it was expected to close in the second half of 2025, pending regulatory approvals.Related StoriesMoviesAlfred Hitchcock, Chantal Akerman, Jiri Menzel Movies Set for Beijing Film FestivalNewsElton John and Brandi Carlile Release Collaborative Album 'Who Believes In Angels?'IMPALA, the trade body of European independent labels, and Britains Association of Independent Music (AIM), representing indie record labels in th...
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