Headlines
Universal submits remedy to EU's objections over Downtown deal
Published by Global Banking and Finance Review
Posted on December 12, 2025
1 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 12, 2025
1 min readLast updated: January 20, 2026
Universal Music has submitted a remedy to the EU to address competition concerns over its $775-million Downtown Music takeover, aiming to support independent music entrepreneurs.
BRUSSELS, Dec 12 (Reuters) - Universal Music said on Friday it has submitted a remedy to address competition concerns from the European Commission over the group's $775-million takeover of Downtown Music.
"Following constructive conversations with the European Commission, we have submitted a robust remedy that comprehensively addresses the Commission's only remaining concern," the company said in a statement.
"This deal is about offering independent music entrepreneurs access to world-class tools and support to help them succeed. We are confident that the Commission will recognize the benefits .. and clear the transaction swiftly."
(Reporting by Yun Chee Foo, writing by Louise Breusch Rasmussen, editing by Bart Meijer)
The European Commission is the executive branch of the European Union responsible for proposing legislation, implementing decisions, and upholding the EU treaties. It plays a crucial role in managing the EU's policies and budget.
A takeover occurs when one company acquires control of another company, typically by purchasing a majority of its shares. This can lead to changes in management and business strategy.
A remedy in business transactions refers to actions taken to address concerns or issues raised by regulatory bodies, often to ensure compliance with laws and regulations during mergers or acquisitions.
Independent music refers to music produced and distributed by artists or labels that operate outside the major commercial record labels. This often allows for greater creative freedom and unique artistic expression.
Competition concern arises when a business merger or acquisition may significantly reduce competition in a market, potentially leading to higher prices, reduced quality, or less innovation for consumers.
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