Add the world’s biggest record label to the list of companies standing up to Amazon.com Inc.
Amazon.com Inc. introduced advertising-free music streaming with more than a million songs, ramping up competition against Apple Inc., Spotify Ltd. and Pandora Media Inc.
Billionaire Vincent Bollore, the Vivendi SA investor who took over as chairman today, said he’ll oversee the company’s transformation into a media business and seek cooperation among its TV and music units.
“You have to find another job.”
Vivendi SA’s Universal Music Group won approval from the U.S. Federal Trade Commission for its purchase of the recorded-music business of EMI Group, best known as the record label of the Beatles.
"Our investment in EMI will create more opportunities for new and established artists, expand music output and consumer choice, and support new digital services."
- Universal Music on Sep 21, 2012