Sony Music Entertainment to acquire a majority stake in Alamo Records.

Sony Music Entertainment, an American global music company, agreed to acquire a majority stake in Alamo Records, a music-related Services company. Financial terms were not disclosed. "He has always been a visionary in an area of music that is now front and center of pop culture globally so we are delighted to add his experience and expertise to our creative strategy. We welcome him, his artists and his team to Sony Music and will provide all the partnership he needs to take the label to even greater heights," Rob Stringer, Sony Music Group Chairman.