Reuters reports  that French-owned Universal Music, the world’s largest music company, has purchased the Spanish-language Univision Music Group for an undisclosed amount.

Univision Records, Fonovisa Records, and Disa Records are all labels falling under the Univision Music group umbrella. These labels have been distributed in U.S., Mexican, and Puerto Rican markets by Universal for some time.  Universal will phase out the use of the Univision name but still retain those of Fonovisa and Disa. The company will also retain ties to Univision Communications, the largest Spanish-language broadcaster in the country.