Univision Communications is making its move into the music business with the creation of the Univision Music Group.
Univision has a deal in place to acquire a 50% interest in Monterrey, Mexico-based Disa Records, the second largest independent Spanish-language record
label in the world, from the Chavez family. The Chavez family will maintain a 50% ownership in Disa Records and will continue to manage the business. Terms of the deal were not disclosed.
Univision also struck an exclusive distribution agreement with Universal Music Group, a unit of Vivendi Universal, for the U.S. and Puerto Rico.
The new Univision division will be led by music industry veteran, Jose Behar, and will be
headquartered in Los Angeles. A. Jerrold Perenchio, Univision chairman and CEO, called his company's initial entry into the music business "a natural
extension of our business." - Richard Tedesco