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UMG-EMI Gets FTC OK

AND THE F.T.C. MAKES IT OFFICIAL: Coming on the heels of EU’s approval of UMG-EMI this morning, the U.S. Federal Trade Commission has given its thumbs-up to the deal, meaning it will close within the next week. Said a UMG spokesperson: "We are pleased that the Federal Trade Commission has cleared Universal Music's acquisition of EMI with no conditions. In addition to the U.S., the acquisition has already been approved by regulators in Europe, Australia, Canada, Japan and New Zealand. Our investment in EMI will create more opportunities for new and established artists, expand music output and consumer choice, and support new digital services. With a broad array of EMI artists like Katy Perry, the Beatles, Robbie Williams, Lady Antebellum and Norah Jones, we are well-positioned to grow the company and offer music fans around the world more music and more choice than ever before." (9/21p)

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