Univision Music has a new owner

Universal Music reached an agreement last week to purchase Univision Music Group for an estimated $140 million, according to an L.A. Times report. With the purchase, Universal will become the undisputed Latin music market leader with more than 50% of the U.S. Hispanic market share—a spot that Univision Music currently holds as the No. 1 selling Latin label in the country.

The terms were not disclosed and the agreement is still subject to regulatory approval, but little to no trouble is expected ahead. The deal, which includes the Fonovisa and Disa labels, will turn Universal into a Latin music conglomerate. By taking on Univision Music’s roster of regional Mexican acts—Marco Antonio Solis and Los Tigres del Norte among others—Universal will now offer music lovers a broad range of Latin superstars, including the label’s own sell-out acts such as Juanes and Enrique Iglesias.

For Univision, the sale allows them to pay down debt and focus on their core television and radio business, while Universal will find itself with a larger Latin catalog, improved deals with digital music services, and the title of No. 1 Latin label in the country.

Although Latin music saw a bleak 2007 as reported by Leila Cobo, industry experts agree the time is right for labels to bring in a new wave of Latin talent.

For more on Latin music including The Latin Grammys: Music and Marketing, please click on "Entertainment" listed under CATEGORIES.