The European Commission has cleared the acquisition of Universal EMI units

The European Commission has approved the acquisition of media-company Universal recording division of EMI for $ 1.9 billion (1.5 billion euros), according to AFP. Terms of the transaction is the sale of some labels, including the famous Parlophone, recording Pink Floyd, Coldplay and David Bowie. In addition, Universal announced EMI France, the David Guetta has taken. The Commission found that the original purchase plan concerns about the fact that the increase in market share enables Universal raised to monopoly prices and tightening set conditions for digital platforms for the dissemination of music. In a transaction on the music market in Europe had only three exceptionally large companies. In addition to the major divisions, Universal will also sell and several small, specialized in working with one or more groups or artists. Thus, the labels will be sold to Chrysalis, the work with the Ramones and mute, recording Depeche Mode. The company EMI Group, the record labels EMI has been taken over by the bank for the debt of Citigroup in February 2011. The bank decided to sell the company, was on the list of candidates, including the Russian-American businessman, Leonard Blavatnik listed. EMI Group was founded in 1931 in London and was one of the world's biggest recording studios, along with Universal, Warner and Sony.