Universal Music Group cleared a large hurdle with the $1.9 billion takeover of EMI Music. After months of speculation and planning regulators on the Europe and United States fronts confirmed and approved the deal.
According to the NY Times, The european commission agreed to the deal with the condition Universal let go of a third of EMI’s assets. Parlophone along with other european labels are included in the third. This will stop Universal from being able to release music worldwide by Coldplay, David Guetta, Pink Floyd and other big names on EMI’s roster.
Where the third of EMI that won’t be claimed by Universal will end up is still in question. However the merger will still have a significant impact on the industry. THR points out the deal will bring Blue Note, Capitol Records, Decca, Def Jam Recordings, Deutsche Grammophon, EMI Records, Geffen Records, Interscope Records, Island Records, Capitol Records Nashville, Mercury Records, Motown Records, Polydor Records, Universal Music Latino, Universal Music Nashville, Virgin Records and Verve Music Group all under the same umbrella.