[PIAS] Label Group's acquisition of Co-Operative Music has been fully cleared by EC regulators this evening, Music Week understands.
The buyout of Co-Op, a divestment from Universal's takeover of EMI Music, has come without any required adjustments.
[PIAS] has purchased Co-Op for a fee in the region of £500,000. Music Week has been told that Co-Op UK staff will move to the [PIAS] London office in the coming weeks.
Co-Operative Music works with the likes of Bella Union, Moshi Moshi and other indie labels, providing support in marketing, promotions, digital distribution and other services.
[PIAS] has also have acquired the V2 Label, owned by Co-Op. Recent releases have included The Courteeners Top 10 LP ANNA.