Reuters is reporting that Universal’s bid for EMI has been cleared by the EU antitrust regulators.

The £1.1bn bid includes a promise from Vivendi to sell some of EMI’s most valuable record labels.

The approval represents quite a large climate change in the music industry, and the effects will probably take a few years to fully make sense.

Check out the BBC News story here: http://www.bbc.co.uk/news/business-19672277