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Reservoir Acquires Catalogs of Latin Indie Label Nacional Records, Publisher Canciones Nacionales
Reservoir Media has acquired independent Latin music label Nacional Records along with the publishing assets of its sister company, Canciones Nacionales, Billboard reported on 16 July. The deal, which also establishes a joint venture to sign and develop new recording artists and songwriters, marks a significant expansion of Reservoir's presence in the Latin music market and brings one of the genre's most influential independent catalogues under its ownership.
Nacional Records was founded in Los Angeles in 2005 by Tomas Cookman and built a roster including Manu Chao, Bomba Estéreo, Aterciopelados and Los Fabulosos Cadillacs, amassing more than 100 Grammy and Latin Grammy wins and nominations, according to the company. Reservoir, a New York-based, NASDAQ-listed music company founded by Golnar Khosrowshahi, said the acquisition strengthens both its recorded music and publishing divisions. Nacional is also linked to the Latin Alternative Music Conference, founded by Cookman, which takes place from 28 July to 1 August in New York.
In short
- Reservoir Media acquires Nacional Records and its publishing arm
- Deal includes joint venture to develop new Latin artists
- Nacional's catalogue holds over 100 Grammy/Latin Grammy honours
Explained simply
Reservoir Media, a major American music company, has acquired Nacional Records, an independent Latin music label, and its sister publishing company Canciones Nacionales. The deal also includes a partnership for the firms to sign and develop new Latin artists and songwriters.
Nacional Records was founded in 2005 in Los Angeles and has become one of the most influential independent labels in Latin music. The label represents artists including Manu Chao, Bomba Estéreo and Aterciopelados, whose work has earned over 100 Grammy and Latin Grammy awards and nominations.
Reservoir is a publicly-listed American music company expanding its presence in Latin music through this acquisition. The deal strengthens both the recorded music and publishing divisions of Reservoir's business and brings under its ownership one of Latin music's most influential catalogues.
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