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Universal's bid for EMI music division approved
Universal's bid for EMI music division approved

Regulators in the U.S. and Europe on Friday approved Universal Music Group’s $1.9 billion acquisition of the music division of EMI Group Ltd., giving the Los Angeles-based music company control of the Beatles music catalogue and the iconic Abbey Road studios in London, but forcing it to divest interest in the music of Coldplay. The merger will create an even larger global music conglomerate and put the vast majority of commercially released music into the hands of three international giants. In the U.S., the Federal Trade Commission approved the deal without condition. But Universal is required by EU officials to sell off many EMI assets to help keep the new entity from...

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