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As widely predicted, the European Commission look likely to conduct an in-depth investigation of Universal Music’s proposed purchase of EMI that could take up to three months. The EC has reportedly expressed ‘serious doubts’ over the impact that the sale could have on competition, especially in the digital domain.
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Forget about Saint Valentine this week- patron saint of global music sales Adele has cleaned up at the Grammy Awards in the US, walking away with a total of six and winning in each nominated category.Adele, who also performed at the event in Los Angeles on February 12, was awarded song, record and short form music video of the year for ‘Rolling in the deep’.
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Dizzee Rascal has jumped in with the majors, taking his Dirtee Stank imprint to Universal in a “multi-layered deal”.The rapper (real name Dylan Mills) started up the label in 2000 with manager and producer Nick Cage, before signing to XL for three critically acclaimed albums that put him on the map as an underground rap sensation.
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The Gen takes a look at the key developments as it is confirmed that Universal Music are buying EMI’s record labels for £1.2bn, with a consortium led by Sony / ATV acquiring the publishing catalogues for £1.35bn.
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Started up in Newcastle (where they proudly remain) in 1982, Kitchenware are one of those labels who operate as fiercely independent gatekeepers to good music, transcending genres to build up a label, management and publishing roster featuring Prefab Sprout, Editors and Karima Francis.
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The music industry is united in its efforts to help indie labels in the aftermath of the PIAS fire, with the BPI, MCPS and NME all weighing in with support this week.
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A huge amount of independent labels are in turmoil today after a fire at their distribution warehouse destroyed much of their stock in unprecedented rioting on the streets of London this week.
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As widely predicted, Spotify launched in the US last week, creating a palpable stateside buzz three years after its European debut.Before crossing the streams and launching across the big pond, Spotify ensured that they had all majors and Indie representative Merlin on-board. The final major to get involved was Warner Music, seen to be the missing piece of the puzzle for some time now.
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As expected, US bank Citigroup recently announced a strategic review of EMI that is the first step towards the sale of the major, with Universal Music Group and of the course your token average humble private equity billionaire in the frame as potential buyers.
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Music business development network Musictank has announced details of its fourth annual industry conference, taking place on July 14 in London with some huge industry names lined up as guest speakers.
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