© Reuters. FILE PHOTO: Pedestrians are reflected in a logo of Sony Corp outside its showroom in Tokyo July 16, 2014. REUTERS/Yuya Shino
(Reuters) – UK’s competition regulator on Thursday referred Sony Music Entertainment’s purchase of London-based independent record label AWAL for an in-depth probe after the buyer refused to offer any undertakings to alleviate competition concerns.
The Competition and Markets Authority (CMA) has said that the wholesale distribution of recorded music in the UK was highly concentrated at present and if the deal had not gone ahead, Sony and AWAL could have competed more strongly with each other.
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