The music arm of Spain’s biggest media holding, Grupo Prisa, has acquired 70% of the country’s most important management and booking agency, Madrid-based Rosa Lagarrigue Management (RLM). The move is sure to have important repercussions on live Latin music activity on both sides of the Atlantic, especially in Spain.

“This is a very important deal, because in a time of crisis for the music industry, the creation of alliances such as this one underlines the vocation to continue,” Lagarrigue tells Billboard. “We expect an increase in live music [in Spain] by Latin artists, and I will carry on working full out for my artists’ interest in the States and elsewhere. The difference is I now have the support of a major Spanish company.”

RLM, which Lagarrigue founded in 1980, manages leading Spanish artists including Warner-signed Alejandro Sanz and Miguel Bosé. RLM has offices in Miami, where Sanz now lives.

Other RLM artists include ex-Mecano singer Ana Torroja, Marlango, David Demaria, Revolver, Raphael, Malú, Paloma San Basilio, and Alberto Iglesias.

The operation also includes Merchandising On Stage (MOS), an RLM company dedicated to the development of artists’ rights and brands in the world of leisure and entertainment. MOS will now be owned 70% by Grupo Prisa’s music arm (GVM) and 30% by RLM.

GVM’s acquisition broadens the cooperation between the two companies that began in 1999, when GVM was founded. The result was the creation of GVM’s Planet Events. RLM’s participation in Planet Events is now reduced from 49% to 30%.

Planet Events, which shares the same Prisa-owned central Madrid headquarters as GVM, has organized Spain tours by such leading Latin artists as Colombia’s Shakira and Juanes, Mexico’s Maná and Alejandro Fernández, and Brazil’s Caetano Veloso.

GVM was launched as an across-the-board music business operation that included now-defunct publishing and label divisions. The most successful label was MuXXic, which was closed some four years ago.

Both GVM and RLM say fuller details of the operation will emerge in the next few days.