EU approves Universal's bid for EMI

Universal Music can buy the famed British music company EMI, including the hugely lucrative Beatles catalogue, the European Union's (EU) competition regulator said yesterday.

The approval is subject to the condition that Universal jettison some of the famed label's other big acts, including Coldplay and Pink Floyd.

Among EMI's assets that must go are Parlophone, home to those two British bands as well as Kylie Minogue and David Bowie. The Beatles, which is part of Parlophone, was exempted.

via Business feed http://www.scmp.com/business/companies/article/1042694/eu-approves-universals-bid-emi