The European Commission has formally issued a statement of objections in its ongoing investigation into Universal Music Group’s proposed $775 million acquisition of Downtown Music Holdings. This move, announced late Sunday, signals serious preliminary concerns from the EC, requiring UMG to respond.

The European Commission’s probe, officially launched in July, centers on whether UMG’s acquisition would grant it access to “commercially sensitive data” from rival labels through Downtown’s artist and label (A&L) services, which manage distribution, royalty accounting, and rights management.

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