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Universal/EMI deal approved in Japan

Universal/EMI deal approved in Japan

Details are currently thin on the ground, but a Universal spokesperson has confirmed that Phase I of the deal was given the thumbs up in the territory yesterday.

[UPDATE: "We can confirm that the Japanese Fair Trade Commission has unconditionally approved UMG's proposed acquisition of EMI Recorded Music," said the rep. "We are continuing to work constructively with regulators in other jurisdictions, and look forward to clearance elsewhere in due course."]

Japan's approval of the deal comes after a similar positive result in New Zealand last month.

The proposed acquisition is currently being scrutinised by regulators in the EU and US.

Label market shares in Japan are markedly different than those in the West, with Sony Music enjoying great customer loyalty whilst local independents continue to perform well.

More details when we get them.

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Tags: universal, emi, UMG/EMI Merger

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