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Warner Music wins EU approval to purchase Parlophone

Updated May 15, 2013
The artists in Parlophone include band Coldplay. —AP (File) Photo
The artists in Parlophone include band Coldplay. —AP (File) Photo

BRUSSELS: Warner Music won EU regulatory's approval on Wednesday to buy the Parlophone Label Group from Vivendi's Universal Music Group for 487 million pounds ($743.01 million).

World No. 1 record music company Universal is selling Parlophone, whose artists include Coldplay and Daft Punk, to fulfill a promise to the European Commission for clearing its $1.9 billion buy of EMI's recorded music business.

The EU antitrust authority said it did not see any competition issues from the Warner deal.