TOKYO (dpa-AFX) - The Competition and Markets Authority in the UK has decided to refer the completed acquisition by Sony Music Entertainment of all the issued shares of AWAL for a phase 2 investigation. AWAL is an emerging music distributor which allows artists to upload their own music for distribution.
Following a phase 1 probe, the Authority found that Sony's purchase of AWAL raises competition concerns. On 10 September 2021, the acquirer informed the CMA that it would not be offering any undertakings.
Copyright RTT News/dpa-AFX