The Universal statement mentions inaccuracies in the AAI assessment - full details for which can be found here - before emphasising the acquisition of EMI will create more opportunities in the music marketplace as a whole.

The full statement is as follows:

"Among the inaccuracies contained in AAI's analysis is that it vastly downplays the role of power buyers and piracy on pricing, which is well known to anyone who works in the content business.

"Moreover, contrary to AAI's analysis, ...