Sony Music Entertainment has acquired a majority stake in Todd Moscowitz’s Alamo Records, the companies announced Tuesday (June 22). Alamo, which had initially been distributed through Universal Music Group’s Interscope Records, will become a new frontline label under the Sony umbrella, according to the announcement. Terms of the deal were not disclosed, though one source says Sony acquired 75% of the company.
“I decided to partner with Sony Music because Rob [Stringer] and the team showed their deep understanding of entrepreneurship,” Moscowitz said in a statement. “Being competitive in this marketplace requires being fluid, fast and innovative and I have tremendous confidence that Alamo and our artists will get the support from Sony Music to take our entire company to the next level.”
Moscowitz founded Alamo in 2016 after leaving 300 Entertainment, which he had co-founded alongside Lyor Cohen, Roger Gold and Kevin Liles three years prior. Since then, the label has had several breakthroughs with its artists, particularly Rod Wave, blackbear and Lil Durk, whose joint album with Lil Baby The Voice of the Heroes debuted at No. 1 on the Billboard 200 last week. That success followed Rod Wave’s first-ever No. 1 on the Billboard 200 with SoulFly in April. Other artists on the label include Smokepurpp, Comethazine, wifisfuneral, Yung Mal, 03 Greedo, Lil Gotit and more.
Alamo’s entire catalog and existing roster will also be moving over to Sony as part of the deal, while Moscowitz will maintain his title as CEO. UMG/Interscope was a seed partner in Alamo — which, when announced, was initially called Cold Heat Records — and had an option to purchase the label outright, a source tells Billboard. But UMG passed on its option to buy it, in part out of concerns over longterm profitability, reaping more than $125 million from its investment in the joint venture.
Moscowitz has a long and successful track record within the music business, having worked in the leadership team at Def Jam in the 1990s and early 2000s before moving to Warner Music Group and taking over as president of Asylum Records, then CEO of Warner Bros. Records, before co-founding 300. He also has been the longtime manager of Gucci Mane, and has helped steer the legendary Atlanta MC’s career for over a decade. With the new Sony deal, Moscowitz has now worked in some capacity with all three major labels.
“We are very excited to bring Todd and his label, Alamo, to our company,” Stringer said in a statement. “He has always been a visionary in an area of music that is now front and center of pop culture globally so we are delighted to add his experience and expertise to our creative strategy. We welcome him, his artists and his team to Sony Music and will provide all the partnership he needs to take the label to even greater heights.”
Ed. Note: This story has been updated to reflect more accurate terms of the sale.