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Japanese multinational Sony has announced that it has reached an agreement to acquire the Brazilian record label Som Livre, in a deal valued at around 255 million dollars (216 million euros).
The group’s musical arm, Sony Music Entertainment, based in the United States, will buy the Brazilian publisher from Grupo Globo, keeping Marcelo Soares as executive director (CEO).
Som Livre was founded in 1969 to launch and promote bands for television series.
Its catalog includes works by artists such as Marília Mendonça, Jorge & Mateus, Wesley Safadão and Lexa.
The acquisition of Som Livre by Sony Music comes after the multinational announced, in early February, the purchase of the British record label AWAL and a music rights management business.