European Indie Trade Groups Call on Regulators to Investigate UMG’s Acquisition of [PIAS] ...Middle East

LONDON – Independent labels trade body IMPALA is calling on regulators to investigate Universal Music Group’s acquisition of [PIAS] over concerns that the deal restricts competition in the global record business and “narrows options for artists and labels.”  [PIAS] co-founders Kenny Gates and Michel Lambot announced earlier this week that they were selling their remaining shares in the indie label group to Universal Music Group (UMG), which already owns a 49% stake in the company, for an undisclosed sum. Related

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