While regulators in the U.S. and Europe are still weighing the effects of Universal Music's acquisition of EMI's recorded music unit, the Canadian government has given its approval. The Canadian Competition Bureau informed Universal of its approval on Friday, according to Variety. The Bureau also did not ask for any concessions or divestments from UMG.
In a statement, Universal Music said, "We are pleased that the Canadian Competition Bureau has cleared Universal Music's proposed acquisition of EMI with no objections. This follows similar clearances in Japan and New Zealand. Our investment in EMI will create more opportunities for new and established artists, expand music output and consumer choice, and support new digital services. We welcome the Bureau's decision and will continue to work closely with regulators in other jurisdictions to obtain further clearances."
In Europe, Universal has faced difficulties with regulators and its competitors, who would like UMG to divest many of EMI's assets after the deal. A ruling from the European Commission is expected in the next few weeks. In the States, the FTC is currently looking in to the issues surrounding UMG-EMI and could announce its decision in early September.