Universal Music Said to Meet Regulators Amid EMI Cuts
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EMI, the record label of the Beatles, known more recently for debt and disposals, may become even smaller than buyer Universal Music Group has proposed, as competitors say suggested cuts don’t go far enough.
Vivendi SA’s Universal Music unit and European Union regulators met yesterday to discuss if the offer to sell 60 percent of EMI’s European assets satisfies competition concerns, according to a person familiar with the matter. Some third parties who looked at the proposals under an EU review process say they don’t go far enough in reducing the presence of the world’s largest record company in some European markets, according to two other people.