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MEXICO CITY (AP) - London-based music company EMI Group PLC and Mexico's Grupo Televisa said Tuesday they will form a new joint venture record company in Mexico and a U.S. partnership that will give Televisa greater access to the U.S. market.
The new record company, Televisa EMI Music will be formed Sept. 1 to develop and market music from Televisa's popular soap operas, including Rebelde and Complices al Rescate. Both shows feature young stars who have launched successful singing careers.
Televisa EMI Music also will produce compilation albums and develop new recording artists in Mexico, a market valued at $360 million in 2004, up 9 percent from the previous year.
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