Todd Moscowitz: Celebs Rumors

Jem Aswad Senior Music EditorUniversal Music’s share of Todd Moscowitz’s Alamo Records was acquired by Sony Music Entertainment for around $125 million, with a total purchase of between $188 million and $225 million, according to Universal’s recent earnings report and an educated estimate by Music Business Worldwide published Thursday.The company, which was founded as a joint venture with Universal Music Group by the former 300, Warner Music and Def Jam exec in 2016, has been on a hot streak in recent years with Blackbear, Lil Durk and Rod Wave. Sources told Variety at the time that there was a buy/sell negotiation in the months leading up and UMG opted to walk away.While some sources at the time of the June 2021 deal put the sale price at $250 million, MBW spied an item in Universal Music Group‘s recently-issued annual fiscal report stating that Sony Music paid €102 million (around $123 million, which MBW rounded up to $125 million) to buy UMG’s interest in Alamo, which was presumably 50%, with Moscowitz owning the other half.

APPOINTMENTSJim Berkus is stepping down as Chair of talent agency UTA, according to Billboard. The company is also adding two new directors, Paul Wachter of investment firm Main Street Advisors and Ceci Kurzman of Nexus Management Group. Wachter will also become Chair.Defected Records has hired Jess Nash as Head Of Sync and Deniz Hilmi as Head Of Events And Talent.

Warner Music Group has acquired 300 Entertainment in a long-planned move that will merge 300's interests with those of Atlantic imprint Elektra Records, also owned by WMG. Kevin Liles, 300's CEO and co-founder (along with Roger Gold, Todd Moscowitz, and Lyor Cohen, now YouTube's Global Head of Music), will take on CEO and chairman duties at Elektra as well, though the two labels will continue to run independently, according to WMG's official announcement.

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.