From All Access Music Group

SABAN CAPITAL GROUP Chairman HAIM SABAN plans on investing $500 million on a new label, SABAN MUSIC GROUP (SMG), teaming with label vet GUSTAVO LOPEZ, who will serve as CEO.

The new label group will focus on international A&R, artist development and strategically supporting a 360 model for their artists. In teaming with GUSTAVO Lopez, SMG acquires TALENTO UNO’s record label, management and publishing assets. Several artists have already signed alliances with SMG: Israeli duo STATIC AND BEN EL; management of Colombian Reggaeton star REYKON; and French act MARIE MONTI. 

“Music has always been one of my life’s greatest passions—shaping, influencing and motivating me on a daily basis,” 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.”

“SABAN MUSIC GROUP is a LOS ANGELES-based record label with a worldwide view of the music industry, looking to capture the globalization of music and work with artists who have an international appeal,” LOPEZ said. “This will be made possible with the help of HAIM SABAN, who truly understands the work and resources that go into fully developing artists and creating great music. I thank him for his support and partnership. The new Saban Music Group will have various pillars amongst them: Artists signed as partners to 360 models, an acquisitions arm and its own publishing entity.”

For more on this story go to: https://www.allaccess.com/net-news/archive/story/187956/haim-saban-to-launch-the-new-saban-music-group