IMPALA, the European association of independent music companies representing over 6,000 independent music companies and associations, welcomes the European Commission’s decision to open a detailed investigation (phase two) into the proposed merger between Universal Music Group (UMG) and Downtown Music Holdings.
A coalition of leading European and international independent music companies and trade associations have issued an open letter to Executive Vice-President Teresa Ribera at the European Commission, urging the Commission to conduct a deep investigation of Universal Music Group’s (UMG) proposed acquisition of Downtown Music Holdings. This follows a Financial Times exclusive this morning, available here.
The European cultural sector has come together to call on the European Commission, European Parliament and Member States to reinforce the Creative Europe programme in the next EU long-term budget (MFF).
In an open letter sent to the European Commission’s Vice-President and Commissioner for Competition Teresa Ribera, WIN CEO Noemí Planas adds her voice to that of WIN’s sister organization IMPALA in Europe and our Spanish member UFi in calling for a detailed investigation into the UMG/Downtown acquisition. The eyes of the independent music community worldwide are on the EC for leadership to set the standard globally and block this acquisition outright.
IMPALA is the European organisation for independent music companies and national associations. The sector is made up of micro, small, medium businesses and self-releasing artists. They are world leaders in terms of innovation and discovering new music and artists. Independents account for more than 80% of all new releases in Europe and 80% of the sector’s jobs. More info…
