As the war continues to have a devastating humanitarian impact in Ukraine, and sanctions on Russia continue to increase, we can no longer maintain a presence in Russia," Sony Music said in a statement.
Sony Group Corp's music business has exited Russia, transferring the business and musicians to local management, due to the Ukraine conflict.
"As the war continues to have a devastating humanitarian impact in Ukraine, and sanctions on Russia continue to increase, we can no longer maintain a presence in Russia," Sony Music said in a statement.
The music business suspended operations in Russia earlier this year following that country's invasion of Ukraine.
The transaction, which is subject to regulatory approvals, is expected to close in the second half of 2025.
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