Sony Music exits Russia operations in deal with local company

 

Backlink: NIKKEI ASIA

Sony Music has withdrawn from all operations in Russia as Western sanctions on Moscow over the invasion of Ukraine make it difficult to continue business there.

The Sony Group affiliate transferred control of its Russian unit, as well as its entire roster of local musicians, to a separate Russia-based firm. The name of the firm, the value of the transaction and the impact on staff have not been disclosed.