UPDATED: Alamo Records, the label imprint run by industry veteran Todd Moscowitz, is leaving its joint venture partnership at Universal Music Group for Sony Music Entertainment.SME today announced that it has acquired a majority stake in Alamo, which is home to such acts as Rod Wave, Blackbear and Lil Mosey.
Moscowitz, a former top executive at Warner Bros. Records, founded the label in 2016.Under the agreement, Alamo’s roster and catalog will “become a new frontline creative center within SME.” Moscowitz will remain CEO.Sources tell Variety that there was a buy/sell negotiation in the months leading up and UMG opted to walk away.
Read more on variety.com
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