Universal Music Group‘s planned $775 million acquisition of Downtown Music Holdings, the parent company of independent distributors Fuga and CD Baby, could face European Union (EU) scrutiny after the Dutch regulator made a referral request for a competition inquiry. The European Commission, the main executive body of the EU, has not announced any official decision on the topic though.
Universal (UMG)’s proposed takeover of Downtown via the music major’s Virgin Music unit is…