New York, NY (CelebrityAccess) — – Sony Music Entertainment has sealed a deal to acquire Brazilian independent music company Som Livre from Brazilian telecom conglomerate Globo Comunicação E Participações S.A.
The label, which launched in 1969 to provide a platform for the commercialization of music from Brazilian soap operas, has grown to become Brazil’s largest domestic label, serving as home to many of the country’s most popular artists.
The label’s roster includes Marilia Mendonça, Jorge & Mateus, Wesley Safadão, and Lexa, as well as rising stars such as such as Israel & Rodolffo, Dudu MC, Filipe Ret and Grupo Menos é Mais.
In addition to traditional music label functions, Som Livre also produces multiple Brazilian music festivals, including Festeja, Brazil’s largest Sertanejo music festival, as well as Fluve, a music distribution platform servicing Brazil’s independent labels and artists.
Following the acquisition by Sony Music, Som Livre will become a new stand-alone label that will continue to sign and develop its own talent roster, as well as providing label and other services to Brazillian recording artists.
Som Livre’s current CEO, Marcelo Soares, will continue in that role following the acquisition, Sony Music said.
Sony Music said it also plans to invest in Som Livre’s continued growth, creating expanded opportunities for Brazilian artists.
“We are delighted to be investing in Som Livre and expanding our existing relationship with this special company. Brazil is one of the most dynamic and competitive growing music markets in the world and we will provide huge opportunities for creators through our shared vision,” said Sony Music boss Rob Stringer.
“Som Livre has had a great 50-year run as a Globo company. Globo’s support was key to the growth of Som Livre, especially during the last decade when we built the business to what it is today. When facing the future now and seeing all the opportunities ahead, it is very exciting to know that we’ll have
Sony Music with us. We are once again in the right place to allow the best possibilities of career development for our artists and employees. I’m very grateful for all that we accomplished with Globo, and look forward to beginning this new era with Sony Music,” added Marcelo Soares.