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07-19-2005, 04:54 PM #1
Grupo Televisa, EMI join forces
[url=http://www.miami.com/mld/miamiherald/news/breaking_news/12169816.htm]www.miami.com[/ur]
Grupo Televisa, EMI join forces
BY CHRISTINA HOAG
choag@herald.com
Grupo Televisa and EMI on Tuesday said they're joining forces to create new record labels in Mexico and the United States that will combine Televisa's strength in television with EMI's forte in performers and distribution.
Miami-based EMI Music U.S. Latin will be renamed EMI Televisa Music. ''Televisa will contribute significant media support to artists and products,'' the companies said in a statement.
In Mexico, the project entails a new 50-50 joint venture label, called Televisa EMI Music. The label will develop acts and music from Televisa's programs, such as the group RBD from the novela Rebelde and another musical act from Complices al Rescate, as well as other talent in Mexico.
Televisa will also advertise compilation albums manufactured and distributed by EMI, as well as promote the label's artists.
EMI will maintain EMI MusicMexico as a separate entity with its own stable of artists.
The Mexican music market posted a 9 percent gain in sales last year to $360 million.
''This partnership fits with Televisa's strategy to look for new opportunities in the U.S. Latin market and will enrich Televisa's sources for content while leveraging its different media platforms,'' said Televisa Chairman and Chief Executive Emilio Azcárraga.
For his part, EMI Music Chairman and Chief Executive Alain Levy said the deal should provide new revenue streams for one of the world's largest record companies.Support our FIGHT AGAINST illegal immigration & Amnesty by joining our E-mail Alerts at http://eepurl.com/cktGTn
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