[…]Universal’s deal would reduce the number of major record companies to three from four, and give the company — already the largest record group by revenue — a 40 percent share of the global recorded music market, according to most estimates.

Others in the music industry, including the Warner Music Group and independent organizations like the Future of Music Coalition, also oppose the Universal deal. But the deal has supporters, too, including some artist managers and American labor unions representing musicians and performers.