Add the world’s biggest record label to the list of companies standing up to Amazon.com Inc.
“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.
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.
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.
"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