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UMG-Downtown deal should be blocked, music trade associations tell EU's Ribera

( June 30, 2025, 15:52 GMT | Official Statement) -- MLex Summary: Worldwide Independent Network has written to European Commission competition chief Teresa Ribera, urging her to block Universal Music Group’s acquisition of Downtown Music. WIN said the acquisition would “solidify” UMG’s role as a “critical intermediary” in the recorded music market, enabling it to impose terms on music streaming services, and “exploit data” it would gain from rivals to harm them. WIN is an umbrella group bringing together 37 independent music trade associations, including 25 in Europe.Statement follows....

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