Universal Music Group dropped its counter-proposal to European regulators after getting hit with objections about its planned purchase of Downtown Music Holdings for around three-quarters of a billion dollars. The company claims its fix tackles the main worry about getting access to competitor data through Downtown's royalty tracking system called Curve.
The European Commission started digging deep into this acquisition after smaller music industry groups triggered a review mechanism, and over 200 people signed letters against the whole thing. Independent labels are worried UMG would gain an unfair edge by seeing sensitive business info from rivals who use Downtown's distribution and accounting platforms.
Regulators have until early 2026 to either approve the deal with conditions, block it completely, or let it go through as is. Downtown owns several music tech companies that handle distribution and royalty payments for independent artists and labels across Europe.
The European Commission started digging deep into this acquisition after smaller music industry groups triggered a review mechanism, and over 200 people signed letters against the whole thing. Independent labels are worried UMG would gain an unfair edge by seeing sensitive business info from rivals who use Downtown's distribution and accounting platforms.
Regulators have until early 2026 to either approve the deal with conditions, block it completely, or let it go through as is. Downtown owns several music tech companies that handle distribution and royalty payments for independent artists and labels across Europe.
