RUMOR MILL
Tuesday, June 26, 2001
UMG BUYS LATIN LABEL
Universal Grabs RMM’s Assets...But Who Could Blame 'Em?
Universal Music Group has purchased bankrupt Latin label RMM Records, home to Tito Puente and Celia Cruz. Financial terms of the deal were not disclosed.
The sale, revealed Monday (6/25), was part of a Chapter 11 bankruptcy filing by the Latin company.
In buying RMM, UMG nabs over 400 master recordings by more than 130 Latin artists, including Jose Alberto, Tito Nieves, Oscar D'Leon and Tony Vega. Artists currently on the roster include Kevin Ceballos, Manny Manuel, Michael Stuart, Cheo Feliciano and Domingo Quinones.
The 14-year-old RMM, founded by salsa veteran Ralph Mercado, sought protection from creditors in November after songwriter Glenn Moroig won a $7.7 million copyright infringement case against the label, almost rendering the company financially immobile.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMSrumor mail
