FTC Clears Universal Music Group’s EMI Acquisition

Universal Music Group (UMG) received regulatory clearance from the Federal Trade Commission on Sept. 21 to proceed with its $1.9 billion acquisition of EMI.

Munger, Tolles & Olson represented UMG in its FTC proceeding.

“We are pleased that the Federal Trade Commission has cleared Universal Music’s acquisition of EMI with no conditions,” UMG said in a statement. “Our investment in EMI will create more opportunities for new and established artists, expand music output and consumer choice, and support new digital services.”

Munger Tolles served as U.S. counsel to UMG and parent company Vivendi in the November 2011 purchase of EMI’s recorded music division from Citigroup Inc. The deal includes EMI artists Norah Jones and Katy Perry, among others.

Glenn D. Pomerantz and Mary Ann Todd led the Munger Tolles team in the FTC matter.

Mr. Pomerantz is a partner at Munger Tolles who has handled many high-profile antitrust, copyright and contract disputes. His clients include all of the major studios and record companies, as well as several television networks and video game companies.

Ms. Todd is a corporate partner at the firm. Her practice focuses on mergers and acquisitions, joint ventures and strategic alliances.