EU set to probe Universal’s planned acquisition of Downtown Music

The European Commission will investigate Universal Music Group’s $775 million acquisition of Downtown Music, amid concerns that it could increase Universal’s dominance in the music industry. The probe follows a referral from the Netherlands Authority for Consumers and Markets, with independent music representatives arguing that the deal threatens market access for independent artists and labels. Universal Music, which controls 37% of the U.S. market, expressed confidence in proceeding with the acquisition as planned, despite the scrutiny from competition authorities.

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