NEW YORK, NY. and MIAMI, FL. (Top40 Charts/ Universal Music
Group) - Universal Music
Group (UMG), the world's leading music company, today announced that it has completed its acquisition of Univision Music
Group following the recent clearance of the deal in the U.S. by the Federal Trade Commission. The acquisition results in UMG becoming the largest Latin music company in North America.
The combined company, which will operate under the Universal Music Latin Entertainment banner, will include Universal Music Latino, Machete, the newly acquired labels from the Univision purchase - Fonovisa and Disa, Universal Music Mexico & Central America, Latin publishing in the US and Mexico, including the newly acquired Edimonsa, Disa and the Fonovisa catalogs, and GTS Global Talent Services, a management service division. As part of this acquisition, the Univision name will be phased out. Universal Music Latin Entertainment will be a division of Universal Music Latin America, and will be led by Jesus Lopez (currently Chairman & CEO of Latin America and Iberian Peninsula). Mr. Lopez will continue to be based in Miami, Florida and report to Zach Horowitz (President & COO, Universal Music Group) for Universal Music Latin Entertainment.
"Jesus has presided over a period of remarkable growth for Universal 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 balance both creative and business concerns, make him the ideal person to lead the newly merged company."
"I am truly grateful to Zach for this exciting opportunity," commented Mr. Lopez. "It is a privilege to continue working so closely with him and the entire Latin music team as we build this new company, complete with such a rich history and one of the most dynamic groups of artists and executives in the business."
In addition, it was also announced today that Jose Behar, President of Univision Music Group, has departed the company.
"I'd also like to take this opportunity to recognize all of the contributions that Jose has made to Univision over the years," added Mr. Lopez. "We certainly wish him the very best in all of his future endeavors."
Universal Music Latin Entertainment possesses a roster of chart-topping artists as well as a vast catalog that comprises some of the most important Latin recordings in history. Its artists include Juanes, Juan Gabriel, Paulina Rubio, Don Omar, La Secta, Winsin & Yandel, Alicia Villarreal, Pedro Fernandez, La Factoria, Mach & Daddy, Enrique Iglesias, Belanova, Luis Fonsi, Cafe Tacuba, Marco Antonio Solis, Los Tigres del Norte, Los Temerarios, Horoscopos de Durango, K-paz de la Sierra, Grupo Montes de Durango, Alacranes Musicales, Conjunto Primavera, Banda El Recodo, Jenni Rivera, Gloria Trevi, Graciela Beltran, Xtreme, Olga Tanon, Tito Nieves, Bajofondo Tango Club, and Ivy Queen, among many others.