Warner Music Shareholders Approve Merger
Shareholders for Warner Music Group approved the sale of the company to Len Blavatnik’s Access Industries. The music group was bought by Access Industries for $3.3 Billion. Warner Music Group have stated that the merger should be completed by the 3rd quarter of this year. Some shareholders from Warner Music Group are reportedly not happy … Read more
What Is iCloud & What Does It Offer?
Apple have finally unveiled their new Cloud based service called, surprise surprise, iCloud. But what is it and what does it offer? What is “The Cloud”? The cloud is a media service that allows users to upload data onto the internet or Cloud. The data can include a wide range of multimedia files including music … Read more
Warner Music Group Sold For $3.3 Billion. Will Artists Benefit?
CEO of Access Industries, Len Blavatnik, has confirmed the purchase of Warner Music Group by Access Industries for $3.3 Billion. The US private industrial group paid $8.25 per share in Warner to secure the deal. As a result Warner Music has now been delisted from the NYSE as it has become a private company. This means … Read more
Warner Defend 360 Deals At Rethink Music Conference
Billboard has reported that Lyor Cohen (head of Warner Music), defended 360 deals, and the traditional role of record labels at the Rethink Music Conference, in Boston Massachusetts. In terms if the traditional sense, Cohen defended the record label’s role in establishing and grooming young artists. Cohen stated that justification for a record company had to … Read more
Music Industry Creating Global Copyright Database
The music industry is in the midst of creating a global copyright database, which could save over $100 million in costs. This could see more money being returned to songwriters instead of becoming tied up in administration fees. This process of centralising copyright material, would cut out the long and complicated procedure of obtaining licensing … Read more
Akon Signs With CAA
Akon has signed with CAA for worldwide representation. Under the terms of the contract, CAA will represent Akon in touring, merchandise, and endorsements. In addition to selling 9 million albums globally, Akon has also founded two record labels, and is responsible for launching Lady Gaga and T-Pain, into the mainstream pop market.
Pink Floyd Settle EMI Legal Dispute
Pink Floyd have effectively ended their legal battle with EMI, which has been the band’s record label since 1967. The court case, which began in March 2010, focused on the unbundling of Pink Floyd’s albums by online stores, allowing users to purchase individual tracks. The court heard that Pink Floyd’s contract with EMI (signed in … Read more
Pearl Jam Sign To Kobalt Music
Kobalt Music have signed Pearl Jam to a worldwide exclusive deal. The deal will see Kobalt taking over administration of any forthcoming Pearl Jam material,in addition to having immediate administration over the band’s first two albums “Ten”, and “Vs”. Kobalt will also have full administration rights over front man Eddie Vedder’s solo catalogue, including the acclaimed … Read more
Live Nation Sue Ex-Chairman
Live Nation filed a lawsuit last Thursday against their ex-chairman, Michael Cohl, for violating the terms of his agreement when leaving the company. Cohl is one of the most influential concert promoters in the world. He left Live Nation in 2008, over disagreements with the direction the company was taking, with regard to signing artists to … Read more
Univision Fined $1m in Payola Case
The US Federal Communications Commission (USFCC), and Justice Department, have fined the now Univision Radio and the now defunct Univision Music Group. The Los Angeles Federal District Court heard heard the Spanish radio station Univision Radio, was involved in the practice of payola from the music group. Payola is a term used in radio when … Read more
