EC Approves UMG’s Downtown deal... so What Happens Next?

European Commission clears UMG’s Downtown deal, orders Curve divestment

The European Commission has approved Universal Music Group’s (UMG) proposed acquisition of Downtown Music, subject to conditions, clearing the way for the €775 million (about $917 650 300) deal to proceed ahead of the Commission’s 27 February deadline. In a statement released on 16 February, the Commission confirmed that the transaction would not result in a significant restriction of competition in markets where the two companies’ activities ov…

EC approves UMG’s Downtown deal... so what happens next?

The decision was so thoroughly leaked in advance that its announcement came as no surprise, but the European Commission has given the green light to UMG’s Virgin Music Group for its acquisition of Downtown Music Holdings – with conditions. Those conditions involve fully divesting (selling) Curve Royalty Systems, including all of its staff, customers and their data, […] The post is from Music Ally.

Commission approves UMG's acquisition of Downtown, subject to conditions - The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com European Union News

(Credit: Unsplash) This article is brought to you in association with the European Commission. The European Commission has approved, under the EU Merger Regulation, the proposed acquisition by Universal Music Group N.V. (‘UMG’) of Downtown Music Holdings LLC (‘Downtown’). The approval is conditional upon full compliance with the commitments offered by the companies, which entail the full divestment of Downtown’s royalty accounting platform Curve…