The appointment comes as part of Sony Music Latin Iberia's newly-announced organizational structure for operations in Brazil.
The ruling comes after a jury found that the publisher breached the "Ultra" mark by continuing to use the name beyond the expiration of its license.
Also, big releases from ATEEZ and Tyler, the Creator help bolster the third quarter earnings for the second-biggest major music company.
Other recent deals include a new investment in Anghami, Symphonic's distribution pact with Taiwanese label Kafka By the Sea and more.
The global giant’s recorded music division enjoys a 14% spike in revenue, with streaming accounting for 65% of earnings. Publishing also gains.
As streaming growth slows in mature markets, the majors are increasingly looking to labels, catalogs and services in emerging markets overseas.
The band's lucrative publishing catalog was not included in the current deal, sources confirm. Billboard estimates how much it could fetch.
The company's recorded music division saw a 26% spike in revenue, despite a dip in sales for physical music.
The company tells the tech industry in a letter that "unauthorized use" of its music to train AI models "infringes our intellectual property"
The deal, which is likely worth at least $600 million, includes half of the late star's publishing and recorded masters catalog.
