UMG, the world’s largest music company, announced plans late last year to acquire Downtown for $775 million. The deal would significantly expand UMG’s presence in the market catering to do-it-yourself artists, songwriters and indie labels.

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.