Sony Corp, the company's parent, disclosed in early February that its global recorded music and music publishing organizations generated around $7.5 billion in calendar 2021. According to MBW's estimations, that figure increased by at least $1.4 billion year on year.
Two weeks later, Sony's $430 million acquisition of AWAL from Kobalt Music Group was given preliminary approval by the UK's Competition and Markets Authority (CMA).
More major news today (February 23): MBW has announced that Sony Music's acquisition of Som Livre, owner of Brazil's largest domestic record label, has been approved by CADE (Conselho Administrativo de Defesa Econômica).
According to our sources, the acquisition will dramatically extend Sony Music's dominance as the largest recorded music firm in Brazil.
Som Livre was thought to be Brazil's third largest recorded music company overall by market share prior to the acquisition, trailing Sony and Universal.
Sony Music is acquiring Som Livre's sister music publishing and live events operations in addition to the record label.
Sony first announced its purchase of Som Livre — from previous owner Globo Comunicaço E Participaçes – in April of last year.
The deal's price was disclosed to be BRL 1.438 billion, which equated to about USD $255 million at the time.
