The chairman and chief executive of Universal Music, Lucian Grainge, said he will offer a "manifesto" to regulators in the coming weeks that will outline measures to restore growth to the music industry, The Financial Times reports on its website Tuesday.

Mr. Grainge said Universal was willing to sell off assets to assuage fears that the proposed tie-up with EMI's recorded music business could pass 50% market share in some countries, the FT said.

Citing a person familiar with the details, the FT also reported that Mr. Grainge said his plan would increase investment to develop new artists.

Mr. Grainge said the "manifesto" would include a "new way" to work with digital start-up platforms, and added that Universal was working on a "pro-consumer" package of concessions, the newspaper said.

Website: www.FT.com

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