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.
Russia calls its actions in Ukraine a “special operation”.
