New details have emerged of music giant Universal's final acquisition of EMI today, as the legalities were cleared up, despite the hysteria and outcry from much of the music industry over the past week. As a result, the combined company now features a wide range of recogniseable labels within the Universal family, including Polydor, Island, Motown, Virgin and more.

Now the deal has been controversially allowed by the European Commission despite queries over competition issues, Universal has miraculously managed to cling onto some of the Parlophone label members, even though they were ordered to sell this division only a week ago. The Beatles, Katy Perry and The Beach Boys remain as just some of the music giants who were the exception this deal and now also call Universal home.

Martin Mills, who chairs the XL, 4AD, Matador and Rough Trade labels – also known as the independent Beggars Group –was quoted as saying "Universal's arrogance has paid off for them, [in]that they have destroyed a significant competitor, and that even with these divestments their ability to dominate and control the market has reached even more unacceptable levels. Anyone trying to start a new digital service will be realising that very soon, and we will continue to look to the regulators to monitor ongoing behaviour."

The chairman and CEO of Universal Music Group Lucian Grainge, instead claims that "EMI is finally returning to people who have music in their blood … We remain true to our vision of investing in EMI, growing the company as a vibrant source of new music, offering consumers more choice and supporting the growth of online music services." The deal seems done and dusted now, but the furore continues… [via Fact]