So long as the deal passes regulatory approval, Sony Music will buy Som Livre from its current parent, the Globo group. Sony Music, which then called CMA's decision "perplexing" and said it was based on an incorrect understanding of AWAL's position in the UK, did not immediately respond to Reuters' request for a comment on Thursday.ĬMA Senior Director Colin Raftery was concerned the deal could potentially worsen terms for many artists in the UK and lead to less innovation across the industry.Įarlier this year, Sony Music Entertainment, owned by Sony Group, entered into an agreement with Kobalt Music Group to buy its recorded music operations, including AWAL & Kobalt neighbouring rights. UPDATE: Sony has confirmed in an SEC filing that the purchase price for Som Livre is BRL 1.438 billion (approximately USD 255 million). For one of Sony Musics labels or creative centers to review a demo. 7 gave Sony five days to address its concerns. Who do I ask if have a question about a Sony Music artist, including requests for. The Competition and Markets Authority (CMA) has said the wholesale distribution of recorded music in the UK was highly concentrated at present, and if the deal had not gone ahead, Sony and AWAL could have competed more strongly with each other. :A UK regulator referred Sony Music Entertainment's purchase of London-based independent record label AWAL for an in-depth probe on Thursday, after the buyer refused to divest any undertakings to allay competition concerns. When we, studio karhard®, were commissioned to design the interiors of the new Sony Music Entertainment Germany, Europe, and.
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