Big Law
Sony Music Has Completed Its Acquisition of AWAL and Kobalt Neighboring Rights
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.”
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.
