Home Music Business EU to Decide on Apple’s Shazam Acquisition by April 23

EU to Decide on Apple’s Shazam Acquisition by April 23

EU to Decide on Apple's Shazaam Acquisition

Apple recently moved to acquire the music recognition company Shazam, but it might not happen. That will ultimately be decided by a set of competition regulators in the European Union. The officials are set to make a decision by April 23 of this year.

The deal is reportedly worth $400 million. Because of merger rules in Austria, the deal will require approval by regulators. Regulators in Austria chose to bounce the investigation of the deal up to the European Commission.

They hope to investigate whether the swallowing up of Shazam by Apple will “adversely affect competition in the European Economic Area.”

According to Complete Music Update:

Shazam does currently promote digital music services that compete with Apple within its app, allowing people to link through and play identified tracks on other streaming platforms. Once in Appleā€™s ownership, it might not want to promote its rivals in that way and, equally, its rivals might not want the tech giant knowing how many Shazammers are clicking through to their services.

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