The European Commission is set to approve Universal Music Group's purchase of the recorded music assets of EMI this week, according to multiple reports. The combined company is being forced to divest itself of Paralphone. Virgin Records and other assets may also be in play. It's not clear if the Parlaphone sale is UK only and if it includes the Beatles catalog. German media giant Bertelsmann, Richard Branson and indie label Mute are all said to be eyeing various pieces of EMI.
EU antitrust chief Joaquin Almunia is rumored to be giving the deal the green light ahead of the commissioners’ meeting this Thursday. Other European Union agencies also need to weigh in, but the deal could be completed as soon as September 19th.
Maenwhile, a star studded fundraiser for EMI's charitable trust is also shaping up to be a 'Goodbye EMI' party. Details here.
