IMPALA – the Independent Music Companies Association – is a pan-European industry body representing the interests of independent labels and distributors.
IMPALA is led by its CEO, Helen Smith.
UMG was forced by the EC to divest a chunk of rights related to EMI – Parlophone Label Group – which was acquired by Warner Music Group.
Warner Music Group and IMPALA then agreed a package of divestments Warner had to sell to the independent sector.
Sony acquired EMI Music Publishing in full without concessions.Music Business Worldwide