Entertainment Mogul Haim Saban Launches Saban Music Group With $500 Million Commitment
Taps Veteran Gustavo Lopez to Lead The Global Music Venture As CEO
LOS ANGELES, July 17, 2019 /PRNewswire/ -- Haim Saban, Chairman of Saban Capital Group, announced today he will invest $500 million into the music industry and partner with seasoned music executive Gustavo Lopez to lead Saban Music Group.
Saban Music Group (SMG) is a global entertainment company that will focus on international A&R, artist development and strategically supporting a 360 model for their artists. SMG's goal is to sign, work with, guide and provide resources to international artists while giving them an outlet to express their music to the world. As part of its overall growth strategy, SMG will dedicate resources towards the acquisition of recording, publishing and management entities.
"Music has always been one of my life's greatest passions—shaping, influencing and motivating me on a daily basis," Mr. Saban said. "It is with great excitement that I re-enter the music business—not only as a businessman but as someone who is passionate about the art, dedicated to the development of worldwide artists and wants to provide world-class entertainment. I look forward to building this company with Gus and working with artists around the world to fully seize their international appeal."
"Saban Music Group is a Los Angeles-based record label with a worldwide view of the music industry, looking to capture the globalization of music and work with artists who have an international appeal," Mr. Lopez said. "This will be made possible with the help of Haim Saban, who truly understands the work and resources that go into fully developing artists and creating great music. I thank him for his support and partnership. The new Saban Music Group will have various pillars amongst them: Artists signed as partners to 360 models, an acquisitions arm and its own publishing entity."
As part of Mr. Lopez joining Saban Music Group, the company acquired Talento Uno's record label, management and publishing assets. Mr. Lopez founded Talento Uno Music in 2017 after serving as GM/EVP of Universal Music Latin Entertainment where he worked for 21 years. While at Universal, Lopez founded leading Latin-urban label Machete Music and ran multiple labels including Fonovisa / Disa.
SMG also announced today the following artists have signed alliances with the company: Established hit making Israeli duo Static and Ben El; management of Colombian Reggaeton star Reykon who recently released "Latina" featuring Maluma; and French act Marie Monti, the label's first female international act.
Haim Saban, a worldwide pioneer and leader in the entertainment industry, is the Chairman and Chief Executive Officer of Saban Capital Group LLC ("SCG"). Spanning over 40 years, Mr. Saban's career in the entertainment industry ranges from launching a chain of record labels in 1983, developing large scale publishing firms, forming an international television company that later merged with Fox Family Worldwide which sold to Disney for $5.3 billion to leading a group of investors to acquire Univision Communications, Inc. Mr. Saban's passionate devotion to the philanthropic and political arenas reflects both his wide breadth of interests and his commitment to a strong relationship between the United States and Israel.
SOURCE Saban Music Group
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