Universal Music Group Acquires Ralph Mercado Management Records’ Assets.
June 2, 2001
Universal Music Group (UMG) and RMM Records (RMM) announced 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 Quinones. 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 Quinones. 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.”
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.
