Report: EC to Launch Full Probe Into UMG Downtown Acquisition

Sources: EU regulators plan a full-scale investigation into UMG's $775M acquisition of Downtown Music; UMG didn't provide remedies to address regulatory worries

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Report: EC to launch full probe into UMG Downtown acquisition

An official announcement has yet to be made, but it seems Universal Music Group may be facing a full-scale investigation. The post is from Music Ally.

Full scale anticompetition investigation on the cards after UMG’s Virgin Music fails to allay EU fears over Downtown merger

European regulators are set to launch a full-scale antitrust investigation into Universal Music’s proposed $775m deal to gobble up Downtown Music, says Reuters.With a Tuesday deadline to present “remedies to address regulatory worries” over the merger, Universal’s label services division Virgin Music Group, which is leading on the acquisition on the major’s side, “did not provide” information to halt the European Commission’s regulatory investig…