European Commission Confirms Universal Music-Downtown Deal ‘Statement of Objections’ — UMG Doubles Down on Plans for ‘A Successful Conclusion of This Process’

Photo Credit: Universal + Downtown
The European Commission has issued a “statement of objections” concerning Virgin Music Group’s proposed Downtown Music buyout, which the EU executive branch believes “may restrict competition in the market for the wholesale distribution of recorded music.”
The EC just recently made that statement official, days after evidently well-placed sources pointed to an imminent development in the months-running investigation. In summarizing