LEG-owned Ole Music will continue operations.
Indie Latin label Lideres Entertainment Group has shuttered, at least temporarily, sources tell Billboard.biz.
Lideres, based out of Miami, was owned jointly by Venevision, Venezuela's Grupo Cisneros and president Rodolfo Rodriguez. At one point, the label actively signed and developed new talent, but as of late, most of its releases were compilations and special projects supported by TV promotion time via Venevision's deal with Univision.
In 2005, Lideres acquired Ole Music, the indie label founded by former Sony Discos chairman Oscar Llord. Ole, whose roster includes acts like Elvis Crespo and Black Guayaba, will continue to operate, but probably out of a different location.
Llord will continue to run Ole. Lideres was distributed by UMVD, which will continue to distribute Ole.