Business

Sony Group Corp's music business has exited Russia due to Ukraine war

By Loudest Team
September 13, 2022
Sony Group Corp's music business has exited Russia due to Ukraine war

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.

It did not disclose further details of the transaction.

The music business suspended operations in Russia earlier this year following that country's invasion of Ukraine.

Related News

Virgin Music Group Announces Acquisition Of Downtown Music

The transaction, which is subject to regulatory approvals, is expected to close in the second half of 2025.

December 17, 2024

WPP Joins Forces With UMG To Deliver Music And Entertainment...

These projects have empowered a diverse mix of artists to amplify brand messages, galvanize fan communities, and expand their reach....

December 13, 2024

TIPS Music Hits The Right Notes: YES Securities Projects Rs1,050...

This implies a potential upside of 18% from the current market price of ?888.65. Following the announcement, shares of TIPS....

November 26, 2024

Shemaroo Contentino Leads The Way In Inflight Entertainment With 90%...

Staying true to its ethos of Bringing ife to L’ife, Shemaroo Contentino offers over 3,000 movies, more than 25,000 TV....

November 26, 2024