The Competition and Markets Authority (CMA) has provisionally cleared Sony’s takeover of record labels AWAL and Kobalt Neighbouring Rights.
The watchdog referred the acquisition to a formal investigation last September, raising concerns the merger could worsen deals for artists.
Its investigation concluded the deal does not substantially reduce competition in the UK and is not be expected to do so in the future.
Chair of the independent CMA Inquiry Group Margot Daly said a combination of other major labels and independent providers will continue to closely rival Sony.
The CMA is now asking for views on its provisional findings by March 4, with a statutory deadline for its final decision of March 17.
Published: 14-02-2022