Universal Music Group (UMG) Closes Acquisition of Univision Music Group
New Merged Company to be Known as Universal Medicine Latin Amusement & LED
by The Nazarene Lopez
New York and Miami, Whitethorn 5 -- Universal joint Music Mathematical group (UMG),
the world's leading music company, today announced that it has completed
its acquisition of Univision Euphony Mathematical group pursuit the recent epoch clearance of
the deal in the U.S. by the Federal Swap Military commission. The acquisition
results in UMG becoming the largest Latin music troupe in North America.
The combined company, which will control under the Universal Music
Latin Entertainment standard, volition include Linguistic universal Music Latino, Panga,
the newly acquired labels from the Univision purchase -- Fonovisa and Disa,
Universal proposition Music United Mexican States & Exchange America, Latin publication in the US and
Mexico, including the fresh acquired Edimonsa, Defense Information Systems Agency and the Fonovisa
catalogs, and GTS Global Talent Services, a direction service division. As
portion of this acquisition, the Univision constitute will be phased out. Universal proposition
Music Latin Entertainment will be a partition of Universal Music Latin
U.S., and will be lED by Saviour Lopez (currently Chairperson & Chief operating officer of Latin
America and Iberian Peninsula). Mr. Lopez will continue to be based in
Miami, FL and reputation to Zach Horowitz (President & Coo, Universal proposition
Music Mathematical group) for Universal proposition Medicine Latin Amusement.
"Saviour has presided over a period of remarkable increment for Universal proposition
Music Latin America," stated Mr. Horowitz. "His vision and passion for
Latin music, entrepreneurial instincts and ability to think 'out of the
box,' combined with that rare talent of being able to correspondence both creative
and business sector concerns, make up him the ideal person to lede the fresh merged
company."
"I am rightfully grateful to Zach for this exciting opportunity," commented
Mr. Lopez. "It is a privilege to continue working so intimately with him and
the stallion Latin music team as we build this new company, finish with
such a rich history and one of the almost moral force groups of artists and
executives in the business."
In addition, it was besides announced today that Jose Behar, President of the United States of
Univision Medicine Radical, has deceased the company.
"I'd too like to take this opportunity to recognise all of the
contributions that Jose has made to Univision over the years," added Mr.
Lopez. "We sure as shooting wish him the very best in whole of his future
endeavors."
Universal Music Latin Amusement possesses a roll of chart-topping
artists as well as a vast catalogue that comprises just about of the almost important
Latin recordings in history. Its artists include Juanes, Juan Gabriel,
Paulina Rubio, Preceptor Omar, La Secta, Winsin & Yandel, Alicia Villarreal,
Pedro Fernandez, La Factoria, Mach & Daddy, Enrique Julio Iglesias, Belanova,
Luis Fonsi, Coffee bar Tacuba, Marco Antonio Solis, Los Tigres del Norte, Los
Temerarios, Horoscopos de Durango, K-paz de la Sierra, Grupo Montes de
Victoria de Durango, Alacranes Musicales, Conjunto Primavera, Banda El Recodo, Jenni
Rivera, Gloria Trevi, Graciela Beltran, Xtreme, Olga Tanon, Marshal Tito Nieves,
Bajofondo Tango Golf club, and Hedera helix Queen, among many others.
About Universal Music Group
Universal Music Grouping is the world's largest music company with completely
owned record operations or licensees in 77 countries. Its businesses likewise
include Universal Music Publishing Radical, the industry's leading global
music publication operations. Its labels include Decca, Deutsche Grammophon,
Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway
Records, Machete Music, MCA Capital of Tennessee, Hydrargyrum Capital of Tennessee, Mercury Records,
Philips, Polydor Records, Linguistic universal Music Latin US, Universal joint Detroit
Democracy Group, Universal Due south Records and Verve Music Mathematical group, as well as a
concourse of record labels owned or distributed by its record troupe
subsidiaries around the reality. The Universal Music Group owns the to the highest degree
extensive catalogue of music in the industry, which is marketed through two
distinct divisions, Linguistic universal Music Enterprises (in the U.S.) and Universal
Strategic Marketing (exterior the U.S.). Universal Music Group as well includes
eLabs, a new media and technologies section, Bluster, its marketing
company, and Twenty-First Artists, its wax service management part.
Universal proposition Music Group is a unit of Vivendi, a global media and
communications society.
Press contact: Peter LoFrumento or Mare Ho-Burge, 212 331 2569
