EU Opens Phase II Probe Into UMG’s $775 Million Downtown Music Deal

The European Commission has launched an in-depth, or Phase II, antitrust investigation into Universal Music Group’s proposed $775 million purchase of Downtown Music Holdings. Regulators said their preliminary review raised concerns that combining the world’s largest record label with the independent distribution and services company could reduce competition for artist and label services as well as digital music distribution across the European Economic Area. The Commission now has until 26 November 2025 to decide whether to clear the deal, impose remedies or block it altogether. Universal says the acquisition would broaden support for artists, while the EU will examine whether the merger would disadvantage independent labels and performers that rely on Downtown’s services.