RIMAS ACQUIRES STAKE IN ARGENTINE POWERHOUSE DALE PLAY

Rimas Entertainment, home to Bad Bunny, Cris MJ, Eladio Carrión, Mora and Quevedo, has acquired a "significant" stake in Argentine indie Dale Play Records. The agreement unites two independent Latin powerhouses and establishes a partnership among Rimas, Dale Play and Sony Music.

In the announcement, Rimas thanked Sony Music Group Chairman/CEO Rob Stringer, Sony Music Chairman & CEO, Latin America, Spain and Portugal Afo Verde and the entire Sony team for making the deal possible.

Dale Play founder Federico Lauria will remain CEO of the company, which has been the driving force behind global breakouts Bizarrap, Duki, Nicki Nicole and Rels B.

The acquisition expands Rimas' global footprint, adding Dale Play's operations in Argentina and offices in Mexico, Spain and Uruguay to Rimas' presence in Puerto Rico, Mexico, Spain and the U.S.

Y ahora, es el momento de algunas citas:

"From day one, our mission has been to support and develop artists with authenticity and respect for their identity," said Rimas Entertainment CEO Noah Assad. "With Federico and Dale Play, we've built a relationship founded on trust and mutual admiration. This alliance will allow us to break new boundaries and create opportunities for our artists and teams."

Verde said: "I have great admiration for the achievements of both Fede and Noah. They epitomize the new generation of executives and label leaders, characterized by their independent spirit and innovative approach. It is a privilege to continue our partnership with them, and I look forward to the remarkable opportunities and accomplishments we will share as we continue to collaborate."

Lauria added, "Afo and I have had a long-standing friendship for many years, united by a mission to elevate Latin music to the highest level. This partnership reflects a journey we have been on for many years with Noah, Jomy [Miranda, president of Rimas Entertainment and Rimas Sports] and the Rimas team. We share the same vision and values, driven by a passion and a dream to take Spanish-language music and culture to the world."