Miami-based Emusica Entertainment Group has sold its assets, including the historic Fania catalog, to New York investment firm Signal Equity. Emusica will continue to operate for the time being during its phase-out, in order to pay out royalties.

The sale covers both recorded works and compositions; the latter will
continue to be administered by Universal Music Publishing Group.

Signal Equity representatives couldn't be reached at press time.

Emusica acquired the Fania catalog in 2005 for about $10 million, and has since put out a steady stream of product from the venerable salsa label's catalog. Some of its most successful titles have been Hector Lavoe's 2007 "A Man and His Music" compilation, timed with the biopic "El Cantante," and "A Man and His Songs: Alma de Poeta," a two-disc set of songs by legendary composer "Tite" Curet Alonso.

Emusica was a finalist at this year's Billboard Latin Music Awards for
tropical albums label of the year, propelled by Lavoe collection "El
Cantante: The Originals."