Universal Music Snaps Up Univision Music

Universal Music Group said on Thursday it reached a deal to buy Spanish-language Univision Music Group for an undisclosed sum, including its recording and publishing operations, according to Reuters:

“The Univision Music Group includes Univision Records, Fonovisa Records and Disa Records, with Marco Antonio Solis, Los Tigres del Norte and Gloria Trevi on its artist roster.”

Universal said that it will phase out the Univision name but hold onto Fonovisa and Disa. Latin music is one of the healthier genres in a music market struggling with declining CD sales and a move to digital downloads off the Internet, the report said—and is further evidence of the record industry consolidating itself in the face of an evolving customer base.