Today news
Related News
Sony Music Completes Acquisition of AWAL and Kobalt Neighboring Rights; U.K. Initiates Post-Mortem Probe
Reading now: 404
variety.comPatrick Frater Asia Bureau ChiefCompetition 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.”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.
Read more on variety.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
