Billboard is reporting that US mobile content firm Dada Entertainment is laying off staff, following last week’s decision by Sony Music Entertainment to pull out of the joint venture with parent company Dada, and invest directly in the latter instead. Dada Entertainment CEO Massimiliano Pellegrini says that there’s no reason to worry about the company’s future, though. “Overall we are excited about this transaction because now the partnership with Sony Music is extended to a worldwide level,” he says. “Regarding North America, there are not major changes. We will continue to grow our mobile and music business as we were doing before the deal.”

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