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UMG-EMI OK'd by EU

IT’S A DONE DEAL: The EU will approve UMG’s $1.9 billion acquisition of fabled EMI Music on Friday, according to several news sources, including the Wall Street Journal and Reuters (see related story here). As we’ve been telling you, in order to get approval, UMG will have to divest roughly 350 million ($457 million) in yearly European revenue, including much of the Parlophone label, which includes acts such as Coldplay, Queen and Gorillaz, though not the Beatles, with potential buyers including Len Blavatnik’s Access Industries/WMG and BMG Rights Management, among others. The U.S. Federal Trade Commission is expected to put its stamp of approval on the deal early next week. (9/19p)

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