Quote:
Sony Music Entertainment and Ultra Music -- the EDM-focused record label, publishing house, management company and media platform owned and operated by Patrick Moxey -- have announced a globe-spanning strategic partnership between the two companies.
As part of the deal Moxey was appointed to the newly-created position of president, electronic music for Sony Music and will report to Sony Music CEO Doug Morris.
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http://www.billboard.com/biz/article...-patrick-moxey
A really big deal, as it means Sony and Ultra will be able to provide Clear Channel with a lot of content to fill the schedules of the new upcoming radio stations. They're a good fit.
It looked like Ultra was going to merge into Cash Money Records and completely re-establish the label from urban to mainstream/EDM, however the deal with Sony was clearly better.
Sony and Ultra's first signing is Daft Punk, who will release their new album through Columbia Records in May.