Essential Read
1–2 minute read
Universal Music’s $775M Downtown Acquisition Cleared by EU
The European Commission has approved Universal Music Group’s acquisition of Downtown Music Holdings — conditional on UMG divesting Downtown’s Curve royalty accounting platform to protect competitors’ sensitive data.
The deal brings CD Baby, FUGA, and Songtrust under the UMG umbrella via Virgin Music Group, significantly expanding its independent services footprint. The transaction drew intense opposition from indie organizations, and its implications for the distribution landscape are far-reaching.
Source: Music Business Worldwide
Read on MBW →