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The European Union conditionally approves Universal Music Group's acquisition of Downtown Music
On February 13, the European Commission announced approval of Universal Music Group’s proposed acquisition of Downtown Music. The approval is contingent upon both companies fully fulfilling their commitments, including Downtown fully divesting its royalty accounting platform, Curve Royalty Systems. In December 2024, Virgin Music Group, a subsidiary of Universal Music Group, announced it would acquire Downtown Music for $775 million in cash. (Jiemian News)