UMG

This EC has started its probe into UMG’s multi-million-dollar purchase, after authorities in the Netherlands and Austria referred the case.

“This new chapter in our relationship with TikTok focuses on the value of music," enthuses Lucian Grainge, chairman and CEO, UMG.

"Clearly," reads a TikTok statement, "Universal's self-serving actions are not in the best interests of artists, songwriters and fans.”

If the music industry had a frosty relationship with TikTok, Universal Music Group's shot across its bows feels like the start of a cold war.

When the existing deal expires Jan. 31, content from UMG, including UMPG, will no longer be available to TikTok or TikTok Music.

UMG is "the most successful company in the history of the music industry and every one of us should be enormously proud," Grainge writes.

“Our challenge and opportunity as an industry is to establish effective tools, incentives and rewards – as well as rules of the road."

Financial terms of the arrangement, announced late Wednesday (Nov. 30), were not disclosed.

According to a corporate statement on her departure, Don will “pursue different and personal opportunities.”

UMG is the launch partner for Vera, an A.I.-powered “music intervention” tool that’s designed to help those battling dementia.