Arab Today, arab today eu conditionally approves universalemi merger
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

EU conditionally approves Universal-EMI merger

Arab Today, arab today

Arab Today, arab today EU conditionally approves Universal-EMI merger

New York - AFP

The European Commission is set to approve Universal's $1.9 billion purchase of EMI, but will require it to sell off many of the target's major record labels, the Wall Street Journal reported Thursday. Citing people familiar with the deal, the Journal said Universal will have to sell record labels and global rights connected to 60 percent of EMI's Europe revenues, potentially undermining the deal's economic rationale. "The die has been cast and the decision has been made, though it has come at a very heavy price for Universal," the Journal quoted an individual involved in the EU approval talks as saying. The merger -- which has already been given the green light in several countries, including Japan and Canada -- still requires US approval. The company will have to let go of EMI assets that generate some 350 million euros ($457 million) in annual revenue, including much of the Parlophone label, which includes Coldplay, Queen and Gorillaz, the Journal reported. The Beatles are excluded from the concessions deal, it added. The terms could see Universal back away from the deal and its rival, Warner Music -- which has opposed the purchase from the beginning -- step in to buy EMI instead, according to the Journal. Brussels could announce the decision as soon as Friday. When announcing the probe in March, the European Commission warned that the deal "could reduce competition in the recorded music market to the detriment of European consumers." The Commission said it worried the merged company would not face sufficient price competition from competitors or even illegal downloading. Universal Music Group -- a unit of the French group Vivendi -- last November announced its purchase of EMI from US bank Citigroup for £1.2 billion (1.5 billion euros, $1.9 billion). EMI -- home to a galaxy of stars including The Beatles, Coldplay and US pop starlet Katy Perry -- was seized by its main creditor Citigroup in February 2011 from private equity owner Terra Firma.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu conditionally approves universalemi merger Arab Today, arab today eu conditionally approves universalemi merger

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu conditionally approves universalemi merger Arab Today, arab today eu conditionally approves universalemi merger

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday