Bloomberg

  1. Wiseguy Ticket Brokers Avoid Jail Time

    June 10, 2011 10:35 AM EDT The owners of a ticket-brokerage business who used computer programs to buy 1.5 million tickets online have avoided jail time and received probation for their roles in the operation, according to Bloomberg . The indictments were handed out in Marc ...

  2. Sony Security Problems Continue With Attack on Brazilian Music Site

    June 09, 2011 1:16 PM EDT Sony's Internet security problems continue: The website of Sony Music in Brazil is currently down after being hacked earlier this week. LulzSec , the group that had performed a handful of earlier attacks, claimed it was not behind the attack ...

  3. Google to Unveil Mobile Payments Thursday: Source

    May 25, 2011 7:35 AM EDT Google Inc will take the wraps off a mobile payment system on Thursday that lets consumers pay at checkout with phones instead of cards, a source said, hoping to beat Visa and others to the punch. The Internet search and advertising leader will wo ...

  4. Apple Reaches Licensing Agreement With Sony For Cloud Music Service: Report

    May 20, 2011 9:02 AM EDT Apple Inc has reportedly reached a licensing agreement with Sony Corp for its impending music cloud service, according to Bloomberg News . That would make Sony the third major label after Warner and EMI to reportedly sign deals with the Apple . If ...

  5. Why Apple Will Dominate Cloud Music, Regardless of Label Deals

    May 19, 2011 11:34 AM EDT UPDATE : Reports surfaced today (May 22) that Apple has come to terms with Sony Music Entertainment for it's impending cloud service , according to Bloomberg News. The deal would make Sony the third major label after Warner and EMI to sign li ...

  6. Business Matters: Despite Media Reports, EMI Did Not Post a $535 Million Profit Last Year

    May 18, 2011 4:46 PM EDT Don't Believe the Hype: EMI Did Not Post a $535 Million Profit Here's another reason not to believe everything you read in the papers: London's Sunday Times reported that EMI's most recent annual profit rose 7% to £330 million ...

  7. Warner Music Group Shareholder Sues Over Sale

    May 13, 2011 7:45 AM EDT Warner Music Group Corp. was sued by a shareholder who claims WMG's acquisition by Len Blavatnik's Access Industries last week undervalues the company, according to a Bloomberg report . The complaint, filed by Barbara A. Varipapa, said t ...

  8. Business Matters: Microsoft's Acquisition of Skype Means Nothing for Us, Rdio Says

    May 11, 2011 8:21 PM EDT Microsoft's Acquisition of Skype Means Nothing for Us, Rdio Says -- What does Microsoft's $8.5 billion acquisition of Skype mean for upstart music service Rdio? Recall the two companies are closely related. Prior to founding Rdio, Niklas ...

  9. 'American Idol' Owner CKx to Be Sold to Financial Firm for $509 Million

    May 10, 2011 4:16 PM EDT CKx Inc., owner of American Idol and So You Think You Can Dance producer 19 Entertainment, said Tuesday it has agreed to be acquired by an affiliate of financial firm Apollo Global Management. The deal values the company at around $509 million whe ...

  10. Warner Music/Access Industries Deal Is A Win For Both -- But Will Gores Try to Upend It?

    May 06, 2011 7:48 PM EDT Access Industries' proposed $3.3 billion acquisition of the Warner Music Group (WMG) is turning out to be a "best of both worlds" kind of deal for all involved. For one, the private equity owners of WMG will get another payday on to ...

  11. Len Blavatnik's Access Industries Reportedly Close To Purchasing Warner Music Group

    May 05, 2011 7:43 AM EDT Reports emerged over night that Access Industries led by investor Len Blavatnik is close to buying the Warner Music Group for more than $3 billion dollars. The Warner Music Group board has been meeting this week to consider bids from groups that i ...

  12. Warner Music Group Auction In Final Stretch; One New Bidder Since Last Week

    May 03, 2011 7:33 PM EDT As the Warner Music Group (WMG) auction comes into the final stretch, there appears to be three bidders still in the running -- but only two of them are the same as last week. Ron Burkle's Yucaipa Companies dropped out of the bidding, Bloombe ...

  13. WMG Board Provides Eliminated Bidders With Company Data, Sources Say

    April 20, 2011 8:05 AM EDT The Warner Music Group (WMG) board of directors is not only willing to consider more bidders in the auction to sell the company, as reported yesterday by Billboard.biz, but has in fact left some of the supposedly eliminated bidders with access to ...

  14. Apple Seeks FairPlay Antitrust Lawsuit Dismissal

    April 19, 2011 1:32 PM EDT Apple is seeking to have the antitrust lawsuit filed against it over its FairPlay DRM technology dismissed. According to Bloomberg , which is following the court case, the presiding judge expects to make a decision on the request by May. Earlier i ...

  15. Warner Music Bidding Down to Three, More Could Join

    April 18, 2011 2:58 PM EDT The race for Warner Music Group is now down to the three most credible bids but the board would consider more bidders, according to a person with knowledge of the discussions. These three companies were identified by a Bloomberg report as Yucaipa ...

  16. Business Matters: New Zealand Lawmakers Pass Strict Anti-Piracy Law

    April 14, 2011 6:52 PM EDT New Zealand Lawmakers Pass Strict Anti-Piracy Law -- New Zealand lawmakers have passed legislation that outlaws file sharing and threatens repeat offenders with disconnection of Internet service up to six months. The new law will go into effect Se ...

  17. Google Could Be Target of FTC Antitrust Probe: Report

    April 05, 2011 7:05 AM EDT The Federal Trade Commission is considering an antitrust investigation of Google Inc's dominance of the Web search industry, Bloomberg reported on Monday, citing two people familiar with the matter. Before deciding whether to launch such an i ...

  18. Big Entertainment Stocks Post First-Quarter Gains

    April 01, 2011 7:35 AM EDT The opening quarter of 2011 saw the shares of a range of entertainment conglomerates hit new multiyear highs as double-digit gains for all sector biggies except Sony Corp. outpaced the broad-based S&P 500 stock index. The gains, led again by C ...

  19. Vevo and Myspace? Interesting, But Unlikely

    March 29, 2011 1:26 PM EDT As NewsCorp continues its search for a buyer of the struggling Myspace social networking service, we're going to hear about several "interesting" conversations it has with potential partners. The latest, according to Bloomberg , is ...

  20. Microsoft To Phase Out Zune Player

    March 14, 2011 6:08 PM EDT Microsoft Corp is not planning any more versions of its unpopular Zune digital media player, but is to continue offering music and video using the same software online, through its Xbox game console and on its Windows phones. The decision not to f ...

  21. Warner Music Has At Least Five Serious Bidders, Source Says

    March 08, 2011 12:59 PM EST Warner Music Group is getting more bids than expected for the recorded music division and the entire company, a source told Billboard Tuesday morning. At the same time, Warner has also received bids for music publishing division Warner/Chappell, t ...

  22. Apple Music Locker Service Taking Shape

    March 04, 2011 11:55 AM EST That Apple is negotiating with the major record labels for a digital music locker service isn't exactly news , as virtually every story written speculating about Apple's cloud music plans have centered in on that scenario. Bloomberg toda ...

  23. Chinese File-Sharing Site Xunlei Plans U.S. IPO

    March 04, 2011 8:26 AM EST Google-backed Chinese video and music file-sharing firm Xunlei, once sued by six Hollywood studios for film piracy, hopes to raise $200 million in a U.S. initial public offering and is hiring JPMorgan Chase and Deutsche Bank to get ready. The comp ...

  24. WMG Businesses Receive More Than 10 Bids in Auction

    February 28, 2011 7:00 PM EST The Warner Music Group has received more than 10 bids in the first round of the auction being conducted on its behalf by Goldman Bros., according to Bloomberg News , who quoted anonymous sources. Sony ATV and BMG, the Berteslmann/KKR joint venture ...

  25. Apple Music-Streaming Rumors Heat Up

    February 14, 2011 12:10 PM EST Apple's plans for a potential streaming music service have been a point of discussion and speculation for more than a year now, ever since it acquired and subsequently shuttered streaming music service Lala in December of 2009. But news leaki ...

  26. MocoSpace to Buy Myspace? Don't Count on It

    February 07, 2011 1:40 PM EST When a once-mighty, once-popular company like Myspace falls from grace and winds up on the seller's block, it's going to become big news. And with big news comes no shortage people and companies that want to piggyback on that big news fo ...

  27. Interest In News Corp.'s Myspace Sale High

    February 04, 2011 3:15 PM EST News Corp has tapped Allen & Co to field buyout interest for MySpace and has heard from about 50 parties, people familiar with the process told Reuters on Friday. The global media conglomerate is considering a handful of options for the future ...

  28. News Corp. 'Assessing' MySpace Sale

    January 13, 2011 12:00 AM EST News Corp . is considering a sale of troubled social networking website MySpace , a rep for the company told Bloomberg Wednesday. "News Corp. is assessing a number of possibilities including a sale, a merger and a spinout," the company&# ...

  29. MySpace Lays Off Nearly Half Its Staff

    January 11, 2011 12:00 AM EST MySpace has announced that nearly half its employees around the globe will be laid off in a broad restructuring of the foundering social network. About 500 employees, or 47% of the company's global staff, will be let go, CEO Mike Jones said i ...

  30. Facebook Valued At $50 Billion, More Than Yahoo and Most Entertainment Companies

    January 03, 2011 12:00 AM EST Wall Street powerhouse Goldman Sachs has invested $450 million in Facebook, and existing Russian investor Digital Sky Technologies has invested an additional $50 million in a deal that values the social networking firm at $50 billion, the New York ...

  31. Apple Sued Over Apps Sharing User Information With Third Parties, Lawsuit Names Pandora Radio

    December 28, 2010 12:00 AM EST Apple is the target of a class action lawsuit over the way its apps share personal information with outside parties, according to a Bloomberg report . The lawsuit comes a week after a Wall Street Journal article about user information being shared ...

  32. Business Matters: Terra Firma Close to Losing EMI, Reports Say

    December 13, 2010 12:00 AM EST Opinion and analysis of the day's music news. TERRA FIRMA COULD LOSE EMI BY CHRISTMAS -- Reports out of the U.K. claim Terra Firma could lose EMI by Christmas. The paper said Terra Firma chief Guy Hands has told investors to expect the worst ...

  33. Groupon Considers Sale To Google: Report

    November 22, 2010 12:00 AM EST E-commerce coupon site Groupon Inc is considering selling itself to Google Inc, according to media reports. The two are in discussions about an acquisition for more than $3 billion, reported the technology blog AllThingsD, citing anonymous sources ...

  34. Russian Billionaire Increases Stake in HMV

    November 10, 2010 12:00 AM EST Bloomberg reports that Russian oligarch Alexander Mamut has increased his stake in HMV Group, the British company which owns and operates leading U.K. entertainment retailer HMV. According to Bloomberg, Mamut has upped his existing stake in HMV Gr ...

  35. Vevo, BET Close To Deal: Report

    October 01, 2010 12:00 AM EDT Vevo has reportedly finalized an agreement to syndicate its catalog of music videos to BET.com . A Bloomberg report cites two anonymous sources saying the deal is done. The interesting element here is that BET parent company Viacom also owns MTV, ...

  36. What To Expect From Apple's Upcoming Event

    August 26, 2010 12:00 AM EDT Now that Apple has confirmed the date of its next "big announcement" for Sept. 1 in San Francisco, the rumor mill has kicked into high gear. The big question is whether Apple will unveil its long-anticipated cloud-based music service, si ...

  37. UPDATED: Will Apple Announce Their Cloud Strategy Next Month?

    August 25, 2010 12:00 AM EDT Update: Apple just sent out invitations for a Sept. 1 special event at the Yerba Buena Center for the Arts Theater in San Francisco. The e-mail invitation doesn’t say much, but prominently features an acoustic guitar as the only image. Perhaps a h ...

  38. Wall Street Lukewarm To Hulu IPO Plans

    August 17, 2010 12:00 AM EDT News that Hulu is talking to investment banks about an IPO that could value it at more than $2 billion is a mouth-watering prospect for bankers. After all, the last huge, true Hollywood IPO was that of DreamWorks Animation in 2004. But the news of ...

  39. Business Matters: Rolling Stones, Ustream, DMX and more

    July 29, 2010 12:00 AM EDT FINDING SUCCESS IN THE SUMMER TOUR SEASON -- As people look at the challenging 2010 concert season – which is dominated by large venues – many people have drawn attention to the better situation at small venues. The Chicago Tribune’s Greg Kot take ...

  40. Business Matters: Live Nation, Swedish Sales, Spotify

    July 16, 2010 12:00 AM EDT -- Live Nation 's stock closed Thursday down 10.85% to $10.19. During the afternoon it was down as much as 16%. Investors fled when the company revealed the extent of its summer concert woes during an investor and analyst meeting, although th ...

  41. Opinion: Apple’s Cloud Service Rumors Tell Nothing New

    July 02, 2010 12:00 AM EDT Guess what? Apple is still planning on a cloud-music service. Know what else? Nobody still knows what’s going on. Apple has yet to present its complete plans to the labels, the labels have yet to strike any licensing deals, and there’s still no ti ...

  42. Will Verizon Soon Be Selling The iPhone?

    June 30, 2010 12:00 AM EDT The will-they-or-won’t-they dance between Apple and Verizon Wireless continues with renewed speculation that the mobile operator will soon begin selling the popular iPhone. This time, the reports come from Bloomberg , which cites unnamed sources & ...

  43. Business Matters: DOJ, Canadian Copyright Bill, eBay, UMG and more

    June 03, 2010 12:00 AM EDT -- The Department of Justice is keeping an eye on Live Nation , the New York Post reported on Thursday. The agency has contacted several independent music companies, according to the report, to see if they have felt any negative effects of the Tic ...

  44. Business Matters: Terra Firma, 'Glee,' Wolfgang's Vault and more

    May 28, 2010 12:00 AM EDT Follow Glenn Peoples on Twitter or e-mail him at gpeoples AT billboard.com. -- A source close to Kohlberg Kravis & Roberts (KKR) denied to the Financial Times the buyout firm has been in talks with Terra Firma . “There are no discussions betwe ...

  45. Business Matters: Terra Firma, Vivendi, HMV Group and More

    May 14, 2010 12:00 AM EDT -- Reuters reports Terra Firma has given Citigroup a compliance certificate , a notification of its plan to inject additional equity to meet its debt covenant. Terra Firma does not need to hand over the money until June 14. But the specifics on th ...

  46. Business Matters: Live Nation, IODA, Google, Android Market and More

    April 27, 2010 12:00 AM EDT -- Live Nation will get a second ruling from the UK's Competition Committee as early as next week, reports Bloomberg. The Ticketmaster-Live Nation merger was first approved by anti-trust regulators in December, but a tribunal ordered a review ...

  47. Terra Firma To Ask EMI Investors For Much More

    April 20, 2010 12:00 AM EDT Guy Hands' Terra Firma Capital Partners plans to ask investors to put a further £360 million ($555 million) into EMI - three times the amount Terra Firma previously indicated would be needed to make up shortfalls against the loan covenants. A ...

  48. Smartphone Maker Palm Seeking Buyer: Report

    April 12, 2010 12:00 AM EDT Smartphone maker Palm Inc is looking to sell itself and is seeking bids for the company as early as this week, Bloomberg said, citing three people familiar with the situation. Palm, which makes the Pre and Pixi phones and develops WebOS phone soft ...

  49. Spotify Q3 Launch? Maybe, Maybe Not.

    March 29, 2010 12:00 AM EDT Contrary to what was reported by Bloomberg last week, Spotify says it is not targeting a U.S. launch in the third quarter. A company spokesperson told Music Ally the official estimate is "later this year." Although it did not quote an ex ...

  50. Spotify Set For Q3 U.S. Launch

    March 26, 2010 12:00 AM EDT European streaming music service Spotify plans to launch its U.S.-based service in the third quarter, according to details shared in a recent interview. Senior VP Paul Brown made the statement to Bloomberg in an interview , where he reiterated the ...

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