Business

Sony Music buys minority stake in Walter Kolm’s WK Records

Music by Sony acquired a minority stake in the specialized Latin music label WK Records.

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WKR was launched in 2020 by US-based Latin music executive Walter Kolm, former President of Popular music Latin Entertainment.

The label’s roster includes Puerto Rican superstar Alex Rose and artist/producer Foreign Teck, who produced songs by Post Malone, DaBaby and Tory Lanez.

Other artists signed to the label include Argentine Latin trap artist Seven Kayne and Colombian rapper Cheo Gallego.

In addition to WKR, Kolm also runs the US-based Latin music-focused artist management and services company, WK Entertainment.

Walter Kolm Entertainment’s roster includes the likes of Maluma, CNCO, Wisin, Carlos Vives and Emilia Mernes.

SonyThe investment in WKR marks a significant expansion of the company’s relationship with Kolm and his companies.

The major music company acquired a 50% stake in WK Entertainment in 2019. Billboards Report today (March 14) that majority ownership of WK Records will remain with Kolm following the new partnership with Sony.

“This partnership is personally meaningful to me because of the trust and admiration I have for Rob StringerAfo Verde and Sony Music. ”

Walter Kolm, WK Entertainment

WK Entertainment CEO Walter Kolm said: “This partnership is personally meaningful to me because of the trust and admiration I have for Rob Stringer, Afo Verde and Sony Music.

“It affirms our shared vision to continue to lead and impact the Latin music industry on a scale unparalleled worldwide, as we combine our strengths and build an alliance. never happend.”

“This is a natural next step for us and we’re excited to partner with WK Records to launch together a whole new generation of international superstars.”

Afo Verde, Sony Music Latin-Iberian

Afo Verde, President and CEO, Sony Music Latin-Iberian, added: “We have an incredible relationship with the entire WK family.

“This is a natural next step for us and we’re excited to partner with WK Records to launch together a whole new generation of international superstars.”

The arrival of Sony’s partnership with WK Records marks the group’s latest in a string of high-profile investments in recent months.

In February, Brazil’s competition watchdog, CADE (Conselho Administrativo de Defesa Economica), approved to Sony Music’s acquisition of Som Livre, owner of Brazil’s largest domestic record label.

Original Sony announced the acquisition of Som Livre – from its previous owner Globo Comunicação E Joinações – in April last year.

Meanwhile, in February, the UK’s Competition and Markets Authority (CMA) gave temporary green light for Sony to buy back 430 million dollars AWAL are from Kobalt music group.

SME is also busy investing in superstar artists’ music portfolio, after acquiring Bob Dylan’s entire recorded music portfolio in a deal signed in July 2021 (but announced in January).

The company then acquired Bob Dylan’s recorded music catalog Sony Music GroupBruce Springsteen’s deal came in December, when it acquired two sets of rights – both recording and publishing – covering Springsteen’s entire catalog, in an agreement worth at least $500 million.

At the beginning of February, the company’s parent company – Sony Corp – revealed that its global recorded music and music publishing units have created approximately $7.5 billion in the calendar year 2021.Worldwide music business

https://www.musicbusinessworldwide.com/sony-music-buys-minority-stake-in-walter-kolms-wk-records/ Sony Music buys minority stake in Walter Kolm’s WK Records

Fry Electronics Team

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