UNIVERSAL MUSIC GROUP ACQUIRES RMM RECORDS’ ASSETS
Santa Monica, California, June 25, 2001 – Universal Music Group (UMG) and RMM Records (RMM) jointly announced today the acquisition by Universal of RMM’s assets which comprise one of the most well-respected tropical music catalogs in the industry as well as the future recordings by artists presently signed to the label.
This acquisition of RMM brings to UMG a highly significant Latin music catalog of over 400 master recordings by more than 130 artists in various tropical music styles including Salsa, Merengue and Latin Jazz. This includes seminal recordings by Tito Puente, India, Celia Cruz, Jose Alberto, Tito Nieves, Oscar D’Leon, Tony Vega and Domingo Quiñones. All Spanish-language albums previously recorded by Marc Anthony, including the RIAA certified gold albums Todo A Su Tiempo and Contra La Corriente, will revert to Universal upon the expiration of the current distribution arrangement.
Artists on the current roster include such stars as Kevin Ceballos, Manny Manuel, Michael Stuart, Cheo Feliciano and Domingo Quiñones. In addition, UMG will release the next album by superstar India.
Zach Horowitz, President and COO, UMG, commented, “Ralph Mercado is one of the true innovators and pioneers in the Latin music business. His record company, RMM, since its inception in 1987, has been the preeminent label for tropical music and home of some of the most renowned artists in the Latin music world. That musical legacy along with RMM’s impressive current artist roster are exciting additions to our company. We look forward to building upon the success that Ralph Mercado has achieved.”
Ralph Mercado, President and sole shareholder of RMM, commented, “I am delighted with the transaction and I am excited that our family of RMM recording artists have found an appropriate new home with Universal. I look forward to a continuing role in the music industry.”
RMM has helped define Latin music with its artists’ influence and label achievements in the marketplace. The label’s artists have been recipients of countless prestigious honors and awards bringing worldwide recognition to them and the genre. Among those awards are Grammys, Premios Lo Nuestro, Alma, Billboard, ACE, Diplo, Farandula, Cassandra and Tu Musica. Most recently the label has seen Grammy Award winning albums from Celia Cruz, Tito Puente and Marc Anthony.
The transaction has been approved as part of a Chapter 11 bankruptcy sale subject to the entry of an order by the United States Bankruptcy Court, Southern District of New York.
Universal Music Group is the world’s leading music company with wholly-owned record operations or licensees in 63 countries around the world. Its businesses also include Universal Music Publishing Group, one of the industry’s largest global music publishing operations.
Universal Music Group consists of record labels Decca Record Company, Deutsche Grammophon, Interscope Geffen A&M Records, Island Def Jam Music Group, MCA Nashville, MCA Records, Mercury Records, Motown Records, Philips, Polydor, Universal Records, and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry which is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and UM3 (outside the U.S.). Universal Music Group also includes eLabs, its division dedicated to strategy, business development, and management of new businesses in the online and advanced technology space.
Universal Music Group is a unit of Vivendi Universal, a global media and communications company.