BRUSSELS (AP) — The U.S. Federal Trade Commission has approved Universal's purchase of famed British music company EMI.
The announcement Friday came just after the European Commission green-lighted the deal, although it is forcing Universal to sell some of EMI's biggest acts, including Cold Play and Pink Floyd.
The U.S. regulator said that Universal and EMI's businesses were different enough that combining them wouldn't be anti-competitive. The FTC said it didn't need to impose the same conditions on the deal that the European regulator did because of the differences between the U.S. and European markets.
The FTC's decision was the last major hurdle for Universal Music Group to clear before it can go ahead with its $1.9 billion purchase of EMI's recorded-music division, where talent is nurtured.
- Oct. 12, 2016 Check out the celebs who've run for political office