The CMA opened a ‘phase one’ investigation earlier this year, after the $430m acquisition from Kobalt – which also included the latter's neighbouring rights division.

“We’re concerned that this deal could reduce competition in the industry, potentially worsening the deals on the table for many music artists in the UK, and leading to less innovation across the industry,” said senior director Colin Raftery.

Can't say we didn't see it coming – majors buying up indies is not the way we all want things to go – more competition creates a better, fairer playing field for artists in the long run. Via CMA Press Release