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US set to clear Universal's EMI buy

Friday, September 21 15:47:38

Universal Music Group will receive U.S. antitrust approval for its $1.9 billion purchase of EMI labels without conditions today, according to a source close to the transaction.

In Brussels, the European Commission gave Vivendi's Universal Music Group approval for the transaction but required asset sales worth about $350 million.

Once Universal wins approval from the U.S. Federal Trade Commission, it will be able to close the deal.

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