Sony Music to close Czech branch

Sony Music will close its Czech subsidiary, Sony Music Entertainment Czech Republic, in the coming weeks, after 23 years on the market, the news website reported. No official reason has been released but it has been speculated the Czech market was too small for the firm to maintain a branch. The move comes at a time when Sony Music closes down its Budapest branch as well which managed the offices in Prague. Sony Music had some 20 percent share of the Czech market, and represented some best selling artists such as Daft Punk, Depeche Mode and the popular Czech singer songwriter Tomáš Klus.

Author: Jan Richter