You will be redirected back to your article in seconds

UMG-EMI gets nod from Canada

Country's Competition Bureau approves acquisition

Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings.

UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday.

In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with no objections. This follows similar clearances in Japan and New Zealand. Our investment in EMI will create more opportunities for new and established artists, expand music output and consumer choice, and support new digital services. We welcome the Bureau’s decision and will continue to work closely with regulators in other jurisdictions to obtain further clearances.”

The deal remains pending in major territories. The European Commission — which received a divestment package from the merging companies in July (Daily Variety, July 30) — is expected to rule on the sale within two-three weeks, according to a source.

In the U.S., the Federal Trade Commission is weighing the acquisition stateside, and is likewise expected to rule on the deal by the end of the first week in September. Early this month, the FTC received a letter from solons on the Senate antitrust subcommittee raising “significant competition issues” tied to the deal (Daily Variety, Aug. 6).

More Music

  • Buffalo Springfield L.A. Tribute Headlined by

    Buffalo Springfield Fans Get Next Best Thing to a Reunion: A Richie Furay-Led L.A. Tribute

    Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings. UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday. In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with […]

  • Kendrick Lamar's Label Hosts Free 'Black

    Kendrick Lamar's Label Hosts Free 'Black Panther' Screenings for Kids in Watts

    Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings. UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday. In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with […]

  • Harry Connick Jr

    Harry Connick Jr. Talk Show to End After 2 Seasons (EXCLUSIVE)

    Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings. UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday. In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with […]

  • brandi carlile Album

    Album Review: Brandi Carlile's 'By the Way, I Forgive You'

    Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings. UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday. In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with […]

  • Drake God's Plan

    Drake Gives Away $1 Million to Miami Community in 'God's Plan' Video

    Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings. UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday. In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with […]

  • Darren Criss The assassination of Gianni

    Why Laura Branigan's 'Gloria' Is the Perfect Song for an On-Screen Crime Scheme

    Canadian regulators have approved Universal Music Group’s $1.9 billion purchase of EMI Music’s label holdings. UMG was advised of the approval by Canada’s Competition Bureau via a letter on Friday. In a statement acknowledging the move, UMG said, “We are pleased that the Canadian Competition Bureau has cleared Universal Music’s proposed acquisition of EMI with […]

More From Our Brands

Access exclusive content