Just weeks after Sony Music’s acquisition of distributor and label services firm AWAL was provisionally cleared by a UK regulator, another of its acquisitions has also got the green light. Sony Music announced plans to buy Brazilian music firm Som Livre in April 2021, taking the company off the hands of its previous owner, telco Globo. However, it has taken until now for Brazilian regulator CADE to approve the deal.
That approval comes with no restrictions. “When analyzing the case, the reporting advisor Luiz Henrique Braido considered that the operation revealed low market concentration and low barriers to entry. In addition, according to him, as technological evolution seems to indicate, the costs of entering the segment tend to reduce more and more,” explained CADE.
Sony Music has welcomed the news, as you’d expect. The deal included popular Sertanejo music festival Festeja and distribution arm Fluve.