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Universal Music’s Downtown Music to be probed by Europe, FT reports

The European Commission is expected to announce Friday that it will investigate Universal Music Group’s (UMGNF) planned $775M acquisition of independent music services company Downtown Music, with allegations the deal will give too much power to Universal, The Financial Times’ Barbara Moens and Anna Nicolaou report. Representatives of independent music companies have been urging competition authorities to review and block the deal, arguing it would make Universal even more dominant in the music industry.

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