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U.S./E.U.: US and EU sign off on Universal’s $1.9B EMI buy

By  |  September 23, 2012

U.S. and European regulators said Friday they would allow the $1.9 billion USD purchase of EMI’s recorded music business by Vivendi SA’s Universal Music Group to go through, after Universal promised Europe’s competition watchdog it would sell several assets. Vivendi SA (VIV)’s Universal Music Group won approval from the U.S. Federal Trade Commission for its purchase of the recorded-music business of EMI Group, best known as the record label of the Beatles. The FTC closed its review of the transaction, which allows the merger to go forward, following approval earlier today from European competition authorities after Universal Music agreed to sell about one-third of EMI assets to cut the combined group’s market share. 

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