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PolyGram Records S.A. (Venezuela)

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Use only for releases from 1995 and after. Venezuelan branch of the Dutch entertainment company PolyGram N.V. established in the country in the early 60s as [l=PolyGram Discos, S.A.] In 1994-1995 PolyGram N.V. agreed to acquire Rodven Records of Venezuela for $57 million, and renamed as PolyGram Records S.A. (Venezuela). PolyGram said the acquisition would raise its share of the $2-billion-a-year Latin American music market to 16 percent from 13.5 percent. The purchase will also double PolyGram's share of the Latino-music market in the United States. Today is part of [l=Universal Music Venezuela S.A.] and under the umbrella of [l=Universal Music Group].