A PYMNTS Company

A counter offer in Universal’s EMI bid

By  |  July 29, 2012

Facing scrutiny from the European Commission, Vivendi’s Universal Music Group has offered to sell off EMI’s prized Parlophone. The sale of the record label would dismiss stars like Coldplay and Queen from the assets Universal would otherwise gain in the EMI deal. Commission regulators are concerned that Universal would garner over 40 percent of the market share in several European countries without major concessions. The offer to sell Parlophone follows previous smaller offers to sell off labels such as Virgin and EMI classics. Universal claims it is now “confident of receiving clearance.”

The U.S. Federal Trade Commission is also examining the deal.

 

Full content: Reuters

 

Related content: The European Commission’s Reexamination of the SonyBMG Merger: A Precedent-Setting Attempt to Jump the Fence

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.