Earlier today the European Commission said yes to Vivendi/UMG’s bid to buy EMI Recorded Music. The full Commission press statement is here . Is anyone surprised at the outcome? Our guess is no. If the Commission didn’t want the deal to go through it would have said so months ago.
In the release there are some big name artists that are part of the Parlaphone sell-off (Coldplay, David Guetta, Tinie Tempah). The statement issued earlier today by the Association of Independent Music’s Chairman and Chief Executive Alison Wenham described these divestments as “the crown jewels of EMI.” But there are also quite a lot of artists and bands being divested whose best days are behind them (Tina Turner, Duran Duran, Jethro Tull, Depeche Mode, Moby) and whose value is going to lessen over time. But, UMG has The Beatles and so the company now has the two biggest UK bands ever (inc. The Rolling Stones) in its stable. Other icons moving under UMG’s control include the Beach Boys, Genesis and Bob Seger. Contemporary big names that pass to UMG include Katy Perry, Emeli Sandé, Robbie Williams, Herbert Grönemeyer, Lady Antebellum and Norah Jones. Continue reading “European Commission gives the nod to the UMG/EMI deal”