Warner Music wins EU approval to purchase Parlophone
BRUSSELS: Warner Music won EU regulatory's approval on Wednesday to buy the Parlophone Label Group from Vivendi's Universal Music Group for 487 million pounds ($743.01 million).
World No. 1 record music company Universal is selling Parlophone, whose artists include Coldplay and Daft Punk, to fulfill a promise to the European Commission for clearing its $1.9 billion buy of EMI's recorded music business.
The EU antitrust authority said it did not see any competition issues from the Warner deal.
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