(Finance) – Virgin Music Group (VMG), a division of Universal Music Group (UMG), announced the acquisition of Saban Music Latin. Under the terms of the transaction, financial details of which were not disclosed, Virgin Music Group will acquire Saban Music Latin’s catalog and release future albums by select Saban Music Latin artists.
The selected artists included in the Saban Music Latin catalog are: German Montero; Fuerza De Tijuana; Reykon; Jon Z; Almighty; Jesus Mendoza; Cruz De Oro Band; Michael Stuart; Abel Zazueta and Los De Culiacan. “The addition of the Saban Music Latin roster rounds out the roster of artists perfectly of Virgin Music Group,” we read in a statement.
VMG is committed to further expand the reach and success of Latin music globally and currently operates divisions in eight Latin markets, including Mexico, the Andean region, Chile, Argentina, Brazil, Spain, Portugal and the United States.
Haim Sabanthe founder of Saban Music Group, is an independent non-executive director of UMG.
(Photo: Hanny Naibaho on Unsplash)