Red Ant Entertainment has acquired a 50% equity stake in indie label Delicious Vinyl.
The joint venture will merge Red Ant's marketing, sales and distribution interests with the Delicious Vinyl's A&R acumen and street level marketing skills.
The multimillion-dollar deal will also give Delicious Vinyl access to Red Ant's considerable resources as well as its distribution pipeline through parent Alliance Entertainment.
The pact will also give Red Ant a street credibility through its association with such Delicious Vinyl artists as Pharcyde, the Brand New Heavies and N'dea Davenport.
"The talent acquisition skills of (the execs at) Delicious Vinyl are world class as are their unique instincts to forecast what's next in contemporary urban music," saud Al Teller, co-chair, prexy and CEO of Alliance and founder of Red Ant.
Vinyl has also opened Malicious Vinyl, a rock and alternative music imprint which will bow discs from LIT and Slo-burn later this year. It will also bow Delicious Pictures, a film production company.
Under the deals' terms, Delicious Vinyl exec veep Rick Ross will continue to oversee the company's day-to-day operations.
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