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Deals

August 16, 1996|CHUCK PHILIPS

Teller Takes Top Job at Alliance Entertainment: Red Ant, a new record label launched last month by industry veteran Al Teller, was acquired Thursday by Alliance Entertainment, the nation's largest independent music distributor. Under the agreement, the 51-year-old Teller will become co-chairman of Alliance, which last year generated an estimated $720 million in sales. Teller, who was ousted last fall as chairman of MCA Music Entertainment, established Red Ant in July as a joint venture with investment firm Wasserstein Perella.

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