With the second-round bids for EMI now in (as of Oct. 5), it will take a few days for clarity about the situation to emerge, sources say. Of course, Citigroup and EMI know what they have in hand, but bidders and their consultants are unsure of where things stand. For instance, at the close of second-round bidding, it was unclear if any of the suitors bid on the entire company.
As the year heads into its home stretch, things are looking up for the U.S. music industry – sales are on track to increase over the previous year, something that hasn’t happened since 2004. Albums sales are up 3.3% over 2010, and albums including track equivalents are up 5.4%.
TuneSat, an audio-monitoring service, offers new low-price service for small publishers; PEN Music Group and Reach Music Publishing sign admin deals with Olivia Newton-John and Dangerbird Records respectively; Burt Bacharach and Hal David will receive the U.S. Library of Congress' Gershwin Prize; ASCAP will bestow awards on Don Williams and Katie Herzig; and new Downtime site hooks up artists to good causes.
With the second-round, Oct. 5 deadline looming large in the EMI auction process, insiders share their insight on who's got the inside track. Len Blavatnik/Warner, Universal and Ron Perelman’s MacAndrews & Forbes have all been mentioned.
Canadian government reintroduced the Copyright Modernization Act on Sept. 29, which provides a broad revamp of copyright law in that country. Among the most controversial element of the law is that it allows right holders to use digital locks to prevent unauthorized access to the content. In addition, the bill will prevent the manufacture, importation and sales of devices that can circumvent such locks.
Earth Wind & Fire and J&R celebrated both of their 40th anniversaries with a free show at New York's South Street Seaport. Mayor Bloomberg presented both with 40th anniversary proclamations. Also at the event were WCBS New York DJ Ron Parker, J&R co-CEOs Joe and Rachelle Friedman and Johnson Monster Cable's head monster Noel Lee.
Retail Track was out and about last week, stopping by a birthday party for Brenda Tamayo Manzanedo of Direct Brands Inc., and later visiting the Rodeo Bar to catch the Amber Digby set. There we disccussed Sun Record's legendary recording engineer Cowboy Jack Clement with Chuck Mead of BR5 49, producer/engineer Neil Brockbank, Sony Legacy VP of A&R Rob Santos, Jake Guralnick from 2 Jakes Mgm't, and photographer Jim Herrington.