Ralph Mercado III, the son of the late label and promotions executive Ralph Mercado, has fully acquired his father's promotion company, RMP (Ralph Mercado Presents).

Mercado III had already taken the helm of the company in 2007, when his father stepped down after being diagnosed with cancer. The elder Mercado died in 2009.

In the past month alone, the newly named RMP Live has already produced shows by the likes of Marco Antonio Solis and Ricardo Montaner at Madison Square Garden and Invasión del Amor at the Lehman Center for the Performing Arts with the likes of Victor Manuelle and Elvis Crespo.

In addition, Mercado III also launched the RMM Group (the Rivera Mercado Marketing Group), a marketing and PR firm, with promoter John "Gungie" Rivera. The name, of course, is reminiscent of Mercado's former label, RMM Records.

Aside from founding and leading RMM -- at one point the home of Marc Anthony, India and a legion of other salsa acts -- Mercado was broadly recognized as the leading promoter of tropical music in the world.