Sony Corp. said Tuesday it will buy two units — a music distribution service for independent recording artists, and a performance rights collecting operation — from U.S. Kobalt Music Group Ltd. for $430 million (¥45.2 billion), to enhance its business.
Sony Music Entertainment, a Sony unit based in the United States, will purchase Kobalt’s Awal, which supports independent artists such as Grammy winner Finneas in marketing and distributing their music, and Kobalt Neighbouring Rights, which collects royalties for artists.
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