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Sony Music Completes Acquisition of AWAL and Kobalt Neighboring Rights; U.K. Initiates Post-Mortem Probe Patrick Frater, provided by FacebookTwitterEmail Competition authorities in the United Kingdom have begun an investigation into Sony Music Entertainment’s purchase of the AWAL and Kobalt Neighboring Rights businesses, even after the deal has been completed. Sony announced on Wednesday that it had completed the purchase that was first announced in February this year. The U.K.’s Competition & Markets Authority, does not challenge the deal’s closure, instead saying that it is “investigating the completed acquisition.” More from Variety The $430 million deal represents the transfer of Kobalt Music Group’s recorded music operations and leaves Kobalt Music Group continuing to hold its music publishing business and global digital collection agency AMRA. ....
Music Business Worldwide April 1, 2021 Som Livre artist, Marilia Mendonça, has over 13 billion views of her channel on YouTube We told you so. Last month, MBW predicted that Som Livre, owner of the biggest domestic-born record label in Brazil, was set to be acquired by a major music company. Our sources informed us the price of the deal would likely land somewhere around $250 million to $300 million, and that all three majors had kicked the tires of the firm. Now we know who got it: Sony Music Entertainment has today (April 1) confirmed that it has agreed a deal to acquire Som Livre for an as-yet-undisclosed fee. ....