NEW YORK — Universal Music Group has acquired the assets of Latin-tropical label RMM Records for a reported $18 million as part of RMM’s filing for Chapter 11 bankruptcy protection.
Deal includes RMM’s sizable catalog of 400 master recordings from 130 salsa, meringue and Latin jazz artists, as well as any future recordings from the label’s current roster.
In addition, Universal will get the rights to all the Spanish-language albums recorded by Latin superstar Marc Anthony at the end of RMM’s distribution deal for Anthony with Sony Music, which sources indicate will expire in three years.
RMM’s catalog also boasts works by the late mambo king Tito Puente; Puerto Rican salsa superstar India; and vocalists Oscar D’Leon, Tony Vega, and Tito Nieves. The label’s roster includes singers Kevin Ceballos and Manny Manuel, as well as saxophonist Michael Stuart.
The 14-year-old RMM, founded by salsa vet Ralph Mercado, filed for Chapter 11 in U.S. Bankruptcy Court for the Southern District of New York in November after songwriter Glenn Moroig won a $7.7 million copyright infringement case against the label.