News Summary: US, EU approve Universal buy of EMI
REGULATORS APPROVE: Universal Music Group got approval Friday from American and European regulators to buy the famed British music company EMI, including the hugely lucrative Beatles catalog.
WITH RESERVATIONS: The EU imposed stringent restrictions on the deal, forcing Universal to sell some of EMI's biggest acts.
BEATLES LET BE: Among EMI's assets that must go is Parlophone, home to Coldplay, Pink Floyd, Kylie Minogue and David Bowie. The Beatles, part of Parlophone, were exempted. Universal will also have to sell off EMI's classical music divisions, its French and other local branches and labels that are home to Depeche Mode and The Ramones.