Universal Music Group’s $775 million acquisition of the music-services giant Downtown Music Holdings is likely to be approved by the European Commission in the coming weeks, according to a new report in Reuters citing sources with “direct knowledge of the matter.”
The deal was delayed pending an investigation by the EU’s executive branch that kicked off last summer and resulted in objections to the merger from the Commission made public last November.
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The Reuters report follows Universal Music’s proposal in December to excise Downtown’s royalty and rights-management division, Curve, from its acquisition.
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