Grupo Prisa, Sony Music Entertainment, Cresent Moon Forge New Music Label.

Sony Music Entertainment, Grupo Prisa and Crescent Moon have formed a new joint venture label to discover, develop and establish Latin music artists around the world. The new label name will be announced shortly.

“Sony Music is proud to join Emilio Estefan, Jr. and Grupo Prisa in forging this new label which will cater to the Latin music community around the world,” remarked Sony Music Entertainment Chairman & CEO Thomas D. Mottola. “The power combination of Grupo Prisa and Sony Music, together with the sound and skill of Emilio Estefan, Jr. will establish the new label as a real contender in the world of Latin music.”

“There is an entire generation of musicians, singers and writers out there waiting to bring new sounds to the world stage,” added Emilio Estefan, Jr. “The pool of talent around the world has become an unparalleled A&R source that the new label will tap in order to develop the next wave of artists.”

The new label will be headquartered in Madrid, Spain and its primary markets will be Spain, the United States, and the Latin American countries. The new label will have a management committee representing the interests of all three partners equally.

“This agreement with Sony Music and Crescent Moon expands and further strengthens the work developed in the last year in the music sector by Grupo Prisa through Gran Via Musical. Our bet on Latin music has been mirrored by the increasing popularity of our artists and the important sales numbers we have accomplished in Spain. With Sony Music and Emilio Estefan, Jr., we have created a successful record label equation which will combine the innovation, talent, experience and local knowledge of the markets. I am positive that our venture’s results will soon demonstrate this,” said Jaime Polanco, CEO of Gran Via Musical.