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Universal Music Group buys Univision's Spanish-language unit

Universal Music Group buys Univision's Spanish-language unit

Universal Music Group says it has reached a deal with Univision Communications Inc. to acquire the Spanish-language media conglomerate's recorded music and publishing unit.
Financial terms of the deal were not disclosed in the companies' joint announcement Thursday.
Among the artists on Univision Music Group's roster are Los Tigres del Norte, Ivy Queen and Conjunto Primavera.
As part of the deal, Universal Music will promote its Latin artists on the broadcaster's television network.
Univision had sought to spin off its music unit to help pay down debt.
The company was acquired in 2006 by a consortium of investors for $12.3 billion (currently euro8.13 billion).
Universal Music Group is a unit of Paris-based media and telecommunications company Vivendi SA.


Updated : 2021-05-06 10:04 GMT+08:00