The Portuguese record company Valentim de Carvalho (VC) has ended its historic licensing relationship with EMI Music.
At the same time, VC has signed a licence deal with Som Livre, which in turn was recently acquired by television station SIC, owned by multi millionaire media mogul and former Portuguese prime minister Pinto Balsemão.
The new licence agreement, according to Paula Homem, executive director at VC, "will allow the commercial exploitation of VC's historic back catalog as far back as the 1920s."
She adds, "We will be able to market the catalogue that originally came out on vinyl but then was never marketed again after initial release, and we also plan to invest in the artists' careers and groom new talent."
VC catalog recordings up until 1983 had already ceased being commercially represented by EMI. But EMI will "continue to hold all of the post-1983 national catalog," assures David Ferreira, managing director of EMI Portugal.
VC, which also owns television studios, was founded as a recording company in 1923.
Its catalog traces the history of popular Portuguese music in the 20th century, including works by fado singer Amália Rodrigues, guitar player Carlos Paredes and the first recordings of folk singer Rui Veloso.
Som Livre (Free Sound) is a record company created in 1969 in Brazil, which produces best-selling soundtrack albums from popular Brazilian soap operas generated by Brazilian TV station TV Globo.