Warner Music Group remains on course to acquire the Parlophone label by the summer, after receiving clearance for the deal from the European Commission. “The Commission’s investigation confirmed that the proposed transaction would not raise competition concerns, in particular because following the acquisition, WMG will continue to face competition from the two remaining major music companies, namely Universal Music Group (‘UMG’) and Sony, as well as from independent music labels,” explained the EC’s ruling. It also noted WMG’s promise to indie bodies Impala and Merlin that independent labels will have opportunities to buy, license or distribute certain Parlophone as part of the deal. Impala’s latest statement on the acquisition, issued yesterday, claims the deal will “via strong behavioural commitments and capacity-building initiatives from WMG help to rebalance the recorded music market dominated by the stronger than ever duopoly made of Universal and Sony Music”.
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