Opinion and analysis of the day's music business news.


VIVENDI MERGER?
-- Canal Plus, the cable division of media giant Vivendi, may merge with France Telecom subsidiary Orange, according to reports in France. A merger would end competition between the two companies in the movie channel market. Word of a joining of rivals seemed to please investors. Shares of Vivendi, parent company of Universal Music Group, rose 6.1% on Monday. (The Hollywood Reporter)


ENTERTAINMENT STOCKS SLIP
-- The major indexes fell on Monday but didn’t slip as much as some entertainment and broadcasting stocks. As for the indexes, the Dow fell 1.4%, the S&P dropped 1.5% and the Nasdaq fell 1.6%. Shares of Warner Music Group dropped nearly 4.4%. Live Nation was down 4.8%. Many broadcasters had an especially tough day. Cumulus Media sank 11.3% on the day its owner, Dickey Publishing, acquired Modern Luxury magazine group and announced Cumulus’s Structured Management Services Division will operate the portfolio of titles. Emmis Communications sank nearly 16% and Beasley Broadcast Group was down 4.7%. Sirius XM dropped 3.2% to $0.959.


SEEQPOD PATENTS ACQUIRED
-- The software and patents of Seeqpod were acquired by Intertrust Technologies Corporation, bringing an end to a company that turned search technology into a copyright-infringing music service. Intertrust desired Seeqpod’s search algorithms and plans to incorporate them into its services. The company develops technologies that allow trusted connections and commerce on the Internet. The press release says Seeqpod’s technology will be used for a variety of applications such as health care information services and targeted advertising. It’s worth noting that Intertrust has what it calls an in-house “venture incubator” and music service Beyond Oblivion is in its portfolio of investments. Beyond Oblivion is planning to launch some sort of flat-rate subscription service on October 10. (Press release)

Questions? Comments? Let us know: @billboardbiz

Print