The European Commission said on Friday it would investigate Universal Music Group's planned $775 million acquisition of independent music services company Downtown Music, confirming earlier media reports.

After months of outcry from independent-music trade organizations, European regulators are officially preparing to investigate Universal Music Group‘s proposed $775 million acquisition of Downtown Music.

European regulators are officially preparing to investigate Universal Music Group‘s proposed $775 million Downtown Music acquisition. The Financial Times first reported that an announcement about a probe into the deal was expected today (April 25).