Notícias
Merger
CADE clears the acquisition of Som Livre by Sony Music
On 23 February, the Administrative Council for Economic Defense (CADE) cleared Sony Music's acquisition of Som Livre (owned by Globo Group).
Sony Music is a Brazilian enterprise part of Sony Group. It operates in the music business and has several Brazilian and international signed artists. Som Livre also operates in the music business, more precisely in music recording and editing and event management. Besides, the firm functions as a distribution platform for independent artists and labels through the firm Fluve.
The transaction regards the full acquisition of assets and rights related to Som Livre’s operations.
Commissioner Sérgio Ravagnani, who served as the case’s rapporteur, considered the transaction resulted in low levels of market concentration and entry barriers. Moreover, the rapporteur stated technology developments seem to suggest the costs for entering this market are likely to decrease.
Therefore, the Tribunal decided to uphold the Office of the Superintendent General's opinion to clear the case unconditionally.