Sony Music Entertainment is moving toward the final stage of integrating Greek independent record label Cobalt Music Helladisc into its local operations, completing a corporate consolidation that follows the international music giant’s acquisition of the company in December 2024.
The merger will see Cobalt absorbed by Sony Music Entertainment Greece, strengthening the multinational group’s position in the Greek music market, where ownership of local music catalogs and artist relationships remains central to competition.
According to a valuation report prepared by auditing firm Premium Audit, the transaction is based on a March 31, 2026, restructuring balance sheet that provides a detailed picture of Cobalt’s financial position ahead of its absorption.
ΔΙΑΒΑΣΤΕ ΕΠΙΣΗΣ
The Greek label reported total assets of €11.17 million ($13 million) and liabilities of €6.65 million, leaving a book value of approximately €4.53 million. Following adjustments by independent auditors, its net asset value was assessed at €4.266 million.
One of the most striking features of Cobalt’s balance sheet is its substantial liquidity.
The company held €5.61 million in cash and cash equivalents, almost entirely consisting of bank deposits totaling approximately €5.60 million. That represents roughly half of its total assets, suggesting a significant cash cushion as the business enters the Sony Music structure.
Trade receivables were valued at €4.42 million, down from an initial carrying value of €4.55 million.
Auditors recorded total impairment adjustments of €262,000, including €54,000 for obsolete or slow-moving inventory, €132,000 for outstanding customer receivables and €76,000 for other doubtful receivables.
Cobalt’s business is closely tied to the acquisition, management and commercial exploitation of music rights, an increasingly valuable segment of the global recording industry as streaming platforms generate recurring revenue from established catalogs.
Its balance sheet also includes advances to artists, reflecting the investment required to secure talent and develop musical content.
On the liabilities side, short-term obligations totaled €6.62 million, including €3.85 million in trade payables. Long-term liabilities were comparatively modest at just €27,848.
