Universal Music to acquire Chabaka Music.

Universal Music, a music-based entertainment company, agreed to acquire Chabaka Music, a music distribution and marketing agency. Financial terms were not disclosed. "The MENA region is one of the fastest growing music markets in the world, representing untapped potential and opportunity. Chabaka is a unique collection of visionary leaders, artists and labels, and gives us both scale and opportunity, especially when combined with UMG's world leading global platform. I am particularly pleased that Ala'a Makki and his team will join us and drive the next chapter of Chabaka's success as part of the UMG family," Patrick Boulos, UMG CEO of MENA Region.