Universal Music Group has officially acquired rival music company EMI for $1.9 billion, though it wasn't without quite a bit of struggle. The deal was subject to a competition investigation to make sure UMG didn't squeeze out all competitors, but it was recently approved.
EMI, which is home to Pink Floyd, the Beatles, and 50 Cent's G-Unit label, had been struggling since it was bought by Citigroup in 2011. Citigroup sold EMI to UMG, but sold its publishing holdings to Sony Music Publishing.
How this will affect UMG hip hop labels such as Def Jam, Cash Money Records, and Interscope is quite unclear at this point.
Source: hiphopwired.com
