BMG Kidz, the children’s division of Bertelsmann Music Group, and Rincon Recordings have dissolved their partnership, the companies announced Wednesday.
The partnership, known as Rincon Children’s Entertainment, was formed Nov. 18 , 1991.
No reason was given for the split, which was termed “jointly elected” in a Bertelsmann Music Group statement.
Last year, Rincon prez Ralph King told Daily Variety that the kids group was projected to do $ 18 million in annual audio and video sales (Daily Variety, Aug. 12, 1992).
Pursuant to the agreement, Rincon and King will assume license agreements for Barbie/Barbie cassette, Teddy Ruxpin, Rodanthe Publishing, Monster in My Pocket, Rincon Lullaby Series, Tormont Publishing and Fiona Bentley.
BMG will be responsible for winding down the partnership business, and will assume licenses for Rabbit Ears, Ode to Kids, EVA, North American Entertainment and Astor Music & Books.