Brazil’s competition regulator has approved Sony Music Entertainment’s $255 million acquisition of Brazilian label Som Livre from Grupo Globo, clearing the way for Sony to close the deal next month, reported Billboard.
In early February, the company’s parent, Sony, revealed that its global recorded music and music publishing entities generated approximately $7.5 billion in calendar 2021. According to MBW’s calculations, that number was up by no less than $1.4 billion year-on-year.
Two weeks later, the UK’s Competition and Markets Authority (CMA) gave the provisional green light to Sony’s $430 million acquisition of AWAL from Kobalt Music.
The acquisition will significantly stretch Sony Music’s lead as the largest recorded music company in Brazil, our sources tell us.
Prior to the acquisition, Som Livre was understood to be Brazil’s third biggest recorded music company overall by market share, behind Sony and Universal.
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