LOS ANGELES (CelebrityAcess) — Haim Saban, Chairman of Saban Capital Group, announced he’s teaming up with music industry veteran Gustavo Lopez to launch Saban Music Group.
Saban Music Group is positioned as a record label, international A&R, and artist development company built around offering ‘360 deals’ to artists.
As part of its overall growth strategy, SMG will dedicate resources towards the acquisition of recording, publishing and management entities. And those resources seem to be extensive. According to Saban, he plans to invest $500 million into the venture.
As part of the launch, Lopez’s Talento Uno’s record label, management, and publishing assets will be folded into Saban Music Group. Lopez founded Talento Uno in 2017 after serving as GM/EVP of Universal Music Latin Entertainment where he worked for 21 years. While at Universal, Lopez founded leading Latin-urban label Machete Music and ran multiple labels including Fonovisa / Disa.
SMG’s signings announced at launch include Israeli duo Static and Ben El; management of Colombian Reggaeton star Reykon who recently released “Latina” featuring Maluma; and French act Marie Monti, the label’s first female international act.
“Music has always been one of my life’s greatest passions—shaping, influencing and motivating me on a daily basis,” Mr. Saban said. “It is with great excitement that I re-enter the music business—not only as a businessman but as someone who is passionate about the art, dedicated to the development of worldwide artists and wants to provide world-class entertainment. I look forward to building this company with Gus and working with artists around the world to fully seize their international appeal.”