Merger Update: Sony / AWAL

Merger reference decision announced:

On 7 September 2021, the CMA decided that it was or may be the case that the following Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.

Completed acquisition by Sony Music Entertainment of all the issued shares of the entities comprising the AWAL and the Kobalt Neighbouring Rights businesses from Kobalt Music Group Limited

Pursuant to section 73A(1) of the Act, Acquirer had until 14 September 2021 to offer an undertaking to the CMA that might be accepted by the CMA under section 73(2) of the Enterprise Act 2004 (the Act). On 10 September 2021 the Acquirer informed the CMA that it would not be offering any undertakings. The CMA has therefore decided to refer this Merger for a phase 2 investigation pursuant to sections 22(1) and 34ZA(2) of the Act.

The text of this decision will be placed on the Competition and Markets Authority's web site at https://www.gov.uk/cma-cases as soon as is reasonably practicable.

In the event of media enquiries please contact press@cma.gov.uk.