U.K.'s CMA Clears Sony's Acquisition Of AWAL

The Competition and Markets Authority in the UK said it has cleared Sony's acquisition of AWAL, an 'artist and label' or A&L services provider, following an in-depth merger inquiry.

AWAL is an emerging music distributor offering an alternative to traditional music deals by providing both A&L services and a 'DIY platform' that allows artists to upload their own music for distribution.

Margot Daly, Chair of the independent CMA Inquiry Group, said, "Having carefully assessed the merger we found that it is not likely to affect competition in a way that will reduce the choice or quality of recorded music available or increase prices."

In February 2022, the CMA provisionally cleared Sony's acquisition of AWAL.

In February 2021, Sony Music Entertainment agreed to buy 100% of the shares and related assets of certain Kobalt Music Group subsidiaries in order to obtain AWAL for $430 million.

In September 2021, the CMA referred Sony Music's acquisition of AWAL for a Phase 2 investigation.

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