Universal Music Offers Proposal to EU Watchdog to Clear Downtown Acquisition

Dow Jones12-12

By Joe Stonor

Universal Music Group said it submitted a proposal to the European Commission to address the regulator's concerns over the company's proposed $775 million acquisition of Downtown Music.

On Nov. 24, the European Union's merger watchdog said it was moving forward with its probe into UMG's plan to buy Downtown Music as it believed the deal could reduce competition in the market for the wholesale distribution of recorded music. The commission first launched an in-depth investigation into the deal in July.

UMG said Friday that it proposed a robust remedy that addresses the commission's last remaining concern about the deal after constructive talks with the regulator.

Universal-owned Virgin Music agreed to buy music company Downtown in an all-cash deal last December. The deal was criticized by trade associations and smaller record labels that argued the deal would give Universal the ability and incentive to abuse its market dominance.

"We are confident that the commission will recognize the benefits of the transaction for artists, labels, independent music, and fans in Europe, and clear the transaction swiftly," a Universal Music spokesperson said Friday.

In early afternoon trading, shares in Universal Music were down 0.1% at 21.94 euros. They are currently down 11% so far this year.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

December 12, 2025 07:45 ET (12:45 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The commission first launched an in-depth investigation into the deal in July. \n\n\n  UMG said Friday that it proposed a robust remedy that addresses the commission's last remaining concern about the deal after constructive talks with the regulator. \n\n\n  Universal-owned Virgin Music agreed to buy music company Downtown in an all-cash deal last December. The deal was criticized by trade associations and smaller record labels that argued the deal would give Universal the ability and incentive to abuse its market dominance. \n\n\n  \"We are confident that the commission will recognize the benefits of the transaction for artists, labels, independent music, and fans in Europe, and clear the transaction swiftly,\" a Universal Music spokesperson said Friday. \n\n\n  In early afternoon trading, shares in Universal Music were down 0.1% at 21.94 euros. 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