Economy of the United States

  1. Best Buy to Close 50 Big-Box Stores, Open 100 Mobile Locations

    March 29, 2012 11:16 AM EDT Best Buy Co. said it plans to close 50 big box stores and open 100 small mobile locations in the U.S. in fiscal 2013 and cut $800 million in costs by fiscal 2015. The news came Thursday as the biggest U.S. specialty electronics retailer posted a f ...

  2. Exclusive Q&A: Michael Rapino CEO of Live Nation on the Ticketing Crisis (Part Two)

    March 07, 2012 10:30 AM EST (Illustration by Ray Bartkus) There is a lot of frustration out there in the ticket buying world as thousands of fans virtually line up at primary sites like Ticketmaster.com for tickets to hot shows and, for a variety of reasons, come away empty ...

  3. Trans World Entertainment Profitable For First Time Since 2007

    March 01, 2012 6:45 PM EST Trans World Entertainment's fourth quarter net profit of $16.5 million has helped the chain attain its first profitable year since 2007. Its fourth quarter profit translates into 51 cents per diluted share on sales of $193.1 million for the p ...

  4. Target Pulls Whitney Houston 'Bad Boy' Greeting Card

    February 29, 2012 8:42 PM EST Target is pulling a greeting card that makes fun of the late singer Whitney Houston's penchant for bad boys. The discounter said Wednesday the card was sold in its stores prior to Houston's death on Feb. 11, and as soon as it was brought ...

  5. John Hogan Named Chairman/CEO of Clear Channel Media and Entertainment

    February 24, 2012 5:49 PM EST John Hogan -- no. 12 on Billboard's recent "Power 100" list -- has been promoted to chairman and CEO of Clear Channel Media and Entertainment, effective immediately, the radio giant's parent company said Friday. Hogan, who had ...

  6. Entertainment, Other Stocks End Flat After Dow Exceeds Milestone

    February 22, 2012 7:30 AM EST NEW YORK - U.S. stocks, including shares of entertainment conglomerates, finished Tuesday's trading day flattish after initial gains that pushed the Dow Jones Industrial Average index above 13,000 for the first time since May 2008. Higher oil ...

  7. Business Matters: Lessons For Music Biz In Kodak's Chapter 11?

    February 14, 2012 8:25 PM EST Lessons For Music Biz In Kodak's Chapter 11? -- The music industry is often compared to the buggy whip business that was decimated -- but not entirely killed -- by the rise of the automobile. Perhaps the tale of Kodak provides a better warnin ...

  8. Photos: Warner Music's Grammy Party, With Bruno Mars, Neil Young, Skrillex, Lyor Cohen, Julie Greenwald, More

    February 14, 2012 2:19 PM EST Singer Bruno Mars performs for guests attending the Warner Music Group Grammy Celebration hosted by InStyle at the Chateau Marmont in West Hollywood, CA. (Photo: Vince Bucci/PictureGroup) Warner Music threw an exclusive party after the Grammys at ...

  9. Billboard Power 100: Len Blavatnik

    January 27, 2012 10:00 AM EST No. 8 Len Blavatnik Owner Warner Music Group Twitter: @warnermusic The Owner... Len Blavatnik has a distinction that no one else in the world can claim: He's the only person who owns a major-label group. Even Terra Firma's Guy Hands had ...

  10. Billboard Power 100: Bob Pittman

    January 27, 2012 10:00 AM EST No. 23 Bob Pittman CEO Clear Channel Media Twitter: @PittmanRadio TV On The Radio... When it was announced last year that Clear Channel investor/chairman of media and entertainment platforms Bob Pittman was being promoted to CEO of the global comp ...

  11. Billboard Power 100: Michael Rapino

    January 27, 2012 10:00 AM EST No. 6 Michael Rapino CEO Live Nation Entertainment Twitter: @rapino99 He Really Is The Concert Master... When Billboard put Michael Rapino on its cover in May 2005--for a feature chronicling his battlefield promotion to the top of the world's ...

  12. Billboard Power 100: Nathan Hubbard

    January 26, 2012 11:03 PM EST No. 47 Nathan Hubbard CEO Ticketmaster Twitter: @NathanCHubbard The Golden Ticket... Hubbard oversees the company at the top of the ticketing food chain. Ticketmaster, which merged with Live Nation in January 2010, services more than 10,000 client ...

  13. Billboard Power 100: Tifanie Van Laar

    January 26, 2012 9:52 PM EST No. 63 Tifanie Van Laar Senior Buyer of Music Walmart Twitter: @TifanieLee Still Low Prices. Every Day… Tifanie Van Laar is the senior buyer overseeing music at Walmart, the second-largest music retailer in the United States with an estimated 10.7 ...

  14. Billboard Power 100: John Butcher

    January 26, 2012 8:47 PM EST No. 67 John Butcher VP of Entertainment Target Twitter: @Target_Corp Sharp-Shooter The weight that Target throws around in music retailing--under the leadership of John Butcher--exceeds the estimated 7.8% market share the retail chain captured in ...

  15. Sears and Kmart to Close Over 100 Stores After Slow Holiday Sales

    December 28, 2011 9:00 AM EST In a fast reaction to low holiday sales, Sears Holding Corp. announced Tuesday Dec. 27 that it will close 100 to 120 Sears and Kmart stores nationwide. In a press release, the company said it has seen a 5.2 percent drop in sales in the last two mo ...

  16. Baidu, Chinese Search Engine, Removed From USTR's 'Notorious Markets' List

    December 21, 2011 1:25 PM EST The once-maligned Chinese search engine Baidu has gone legit, at least according to the Office of the United States' Trade Representative. Earlier this year, the Chinese search engine had made strides towards legitimizing its business, beginn ...

  17. Billboard Partners With 'Stache, Target for Country Music Mini-Mag

    December 20, 2011 2:43 PM EST Billboard and 'Stache Media's mini-magazines which will be availabl eexclusively at Target stores nationwide on Tuesday, Dec. 27. Even given the 100 year-plus timeline of Billboard Magazine, there is always room for a little more history ...

  18. Warner Music's $205 Million Loss: No Cause for 'Buyer's Remorse'

    December 09, 2011 8:09 AM EST In issuing the first annual financial report since Access Industries completed its acquisition of the Warner Music Group in July , the headline $205 million net loss the company reported will likely fuel more uneducated speculation about Access ha ...

  19. Labels Like 2011's CD Numbers...Except The One On The Bottom Line

    December 08, 2011 8:35 AM EST Label executives may gnash their teeth about the razor-thin profit margins they derive from the $5 CD being sold in corrugated fixtures and at speed tables in Walmart and Best Buy. But they like the sales bump that this year's new popular con ...

  20. Clear Channel, Cumulus Announce Streaming and Promotional Deal

    December 05, 2011 3:45 PM EST A surprising new alliance in the world of streaming radio was announced today as Clear Channel Radio and Cumulus Media Inc. revealed plans for the iHeartRadio.com digital platform to become the online home of audio streams from the 570 terrestrial ...

  21. Updated: Edgar Bronfman Jr. to Step Down as Warner Music Group Chairman, No Successor Named

    December 05, 2011 3:38 PM EST Warner Music Group Chairman Edgar Bronfman Jr., who stepped down as CEO earlier this year, announced to the company's staff in a memo today that he's relinquishing the chairman role as well. "I wanted to let you know that, as my oth ...

  22. Warner Internal Memos: Bronfman, Blavatnik On Chairman Changes

    December 05, 2011 3:25 PM EST Warner Music Group Chairman Edgar Bronfman Jr., who stepped down as CEO earlier this year, announced to the company's staff in a memo today that he's relinquishing the chairman role as well. WMG, of course, was sold to Len Blavatnik' ...

  23. Black Friday, Cyber Monday Great for Retailers; Record-Store Day Items Drive Music Sales

    November 29, 2011 1:42 PM EST While music merchants say that they too, like retail in general, experienced a strong sales for the Black Friday weekend, some of them acknowledge that music wasn't leading the charge. "We had a great weekend," says one chain execut ...

  24. Cyber Monday Forecast To Set $1.2 Billion Sales Record

    November 28, 2011 7:15 AM EST There's good news for online retailers this year: Black Friday Internet sales jumped 26 percent, while Cyber Monday spending is projected to reach a record $1.2 billion, according to data released Sunday by market research firm ComScore. Blac ...

  25. Disney Chief Bob Iger Joins Apple Board

    November 15, 2011 7:16 PM EST Apple has added to its board of directors Disney CEO Bob Iger, the man responsible for making the late Steve Jobs the media conglomerate's largest shareholder. Apple also said Tuesday it has made Arthur Levinson, the former CEO of Genentech a ...

  26. Read: EMI CEO Roger Faxon's Memo to Staff About Universal Sale

    November 11, 2011 12:21 PM EST Below is EMI CEO Roger Faxon's memo to his staff, circulated today and obtained by Billboard.biz, in which he addresses the sale of the company's recorded-music to Universal and said he hopes to be able to discuss the publishing division ...

  27. EMI Publishing Deal Might Close Before Label

    November 11, 2011 1:48 AM EST With the Financial Times reporting that a deal with Citigroup and Universal for EMI's recorded music division could be struck by the start of next week, sources say that the bank may close the publishing deal first, possibly as soon as today ...

  28. Is Renewed Interest In EMI Auction Real, or Just Smoke?

    November 08, 2011 8:04 PM EST A frenzy of news stories Tuesday would have you believe that the Citigroup run auction for EMI's recorded music operation is not only heating up, but could soon come to a head. Whether that's true or simply just smoke and mirrors remains ...

  29. Backbeat: 'The Voice's' Javier Colon Does Walmart Shoot, Explains Vegetarianism, Not Throwing Blood On Furs

    November 08, 2011 7:29 AM EST Javier Colon films his Walmart performance at Village recording studios in L.A. Javier Colon , winner of the first season of NBC's "The Voice" swooped into Los Angeles Friday for a one-day performance shoot that will be seen in Walm ...

  30. Major Labels Push Back on Best Buy's Price Demands

    November 04, 2011 3:20 PM EDT A Best Buy initiative to have all single-disc albums at an everyday price of $9.99 for the holiday selling season has been turned back by the major labels-at least for now. While some major-label distribution executives expect the conversation to ...

  31. Entertainment Stocks Pop Amid Stronger U.S. Economic Growth

    October 28, 2011 8:12 AM EDT NEW YORK - Big entertainment stocks saw a nice pop Thursday as U.S. stock markets rose following a European debt deal for Greece and news that the U.S. economy grew at its strongest pace in a year during the third quarter. Gross domestic product i ...

  32. Business Matters: Amazon Becomes a Book Publisher -- Is Music Next?

    October 17, 2011 8:20 PM EDT Amazon Becomes a Book Publisher -- Is Music Next? -- Amazon will publish 122 books in both physical and digital formats this fall, according to the New York Times. It won't just act as an exclusive distributor, however. The company is acting ...

  33. Hulu Takes Itself Off the Auction Block

    October 13, 2011 10:33 PM EDT Hulu's months-long effort to find a buyer has been unsuccessful. Owners of the popular company that lets users watch TV shows and movies on-demand via the Internet said late Thursday they have "terminated the sale process." News Cor ...

  34. Bob Pittman Takes CEO Reins at Clear Channel Following IHeartRadio Concert

    October 03, 2011 8:11 AM EDT LOS ANGELES (AP) - On the heels of organizing a two-day concert in Las Vegas that kicked off Clear Channel's iHeartRadio online radio service, media veteran Bob Pittman was named Sunday as chief executive of its parent company, CC Media Holdi ...

  35. Business Matters: Rock City Club Joins Long List of Services For Indie Musicians

    September 15, 2011 6:18 PM EDT Rock City Club Joins Long List of Services For Indie Musicians -- Rock City Club launched Thursday, making it the newest music service aimed at helping independent artists further their careers outside of the traditional music industry infrastruct ...

  36. 9/11: The Music Business Remembers

    September 09, 2011 1:10 PM EDT It was a magnificent, late-summer morning in New York on Sept. 11, 2001. There wasn't a cloud in the sky. The Yankees were atop the American League East with a 13-game lead over the second-place Boston Red Sox. The top box-office draws were P ...

  37. Backbeat: Nile Rodgers Celebrates New Autobiography With Gayle King, Beatriz Perez, Kyle MacLachlan, More

    September 07, 2011 7:32 AM EDT The Guest of Honor: Nile Rogers holding a copy of his new autobiography "Le Freak" at New York's Crosby Hotel. (Photo: Shahar Azran/WireImage) The rainy remnants of Tropical Storm Lee could not stop entertainment glitterati and musi ...

  38. Justice Department Sues To Block AT&T, T-Mobile Merger

    September 01, 2011 7:30 AM EDT WASHINGTON (AP) - The Justice Department took the unusual step Wednesday to try to block AT&T's $39 billion purchase of T-Mobile USA, arguing that the proposed merger would lead to higher wireless prices, less innovation and fewer choices ...

  39. Edgar Bronfman's Next Task At Warner Music Group: EMI?

    August 19, 2011 9:05 PM EDT Is Warner Music Group getting ready to put Edgar Bronfman Jr. out to pasture? That may be the reading of some in the business following the company's announcement that the Warner CEO will swap jobs with chairman Stephen F. Cooper. But conside ...

  40. Warner Music CEO Edgar Bronfman, Jr. and Chairman Stephen Cooper Switch Jobs

    August 19, 2011 3:18 PM EDT Edgar Bronfman, Jr. and Stephen Cooper are switching roles with the former becoming the Warner Music Group chairman and the latter assuming the CEO position and responsible for the company's day-to-day operations. In a memo to employees , Bro ...

  41. Swedish Label X5 Hires Ex-Amazon Employee Griff Morris For U.S. Operation

    August 17, 2011 7:30 PM EDT Stockholm, Sweden-based label X5, which was created in 2005 to take advantage of digital distribution, has further beefed up its U.S. presence by hiring former Amazon employee Griff Morris. In his new role at X5, Morris will be in charge content d ...

  42. Rhapsody Doubles Down on Mobile with MetroPCS Bundling Deal

    August 17, 2011 7:00 AM EDT If subscription music services are going to have any impact on the digital music future, they'll need to be bundled into other more popular services. That's the strategy championed by Rhapsody CEO Jon Irwin -- and it's at the center ...

  43. Amazon's Sales Tax Fight Inspires Calls For Boycott

    August 16, 2011 7:15 AM EDT SACRAMENTO, Calif. (AP) - A coalition of nonprofit groups is calling on customers of Amazon.com Inc. to cancel their accounts unless the Internet retailer stops resisting a California law that requires more online retailers to charge a state sales ...

  44. Ethiopia Habtemariam Named Senior Vice President of Motown Records

    August 10, 2011 5:10 PM EDT Ethiopia Habtemariam, Senior VP of Motown Records Universal Music Group today announced what it described as "the first in a number of new appointments at Motown Records" in promoting Ethiopia Habtemariam to Senior Vice President of Moto ...

  45. Apple Passes Exxon As Most Valuable US Company -- Briefly

    August 09, 2011 4:02 PM EDT Apple briefly surpassed Exxon Mobil as the most valuable company in the U.S. Tuesday afternoon before settling back slightly lower. But the two are now so close that the change of guard is likely to happen soon. Apple Inc.'s stock gained 5.9 ...

  46. Live Nation Posts Second-Quarter Profit, Beats Expectations

    August 08, 2011 5:20 PM EDT Concert promoter Live Nation Entertainment Inc. made a profit in the second quarter, reversing a loss from a year ago, as concert attendance went up in North America and people spent more money than last year on beer and parking. The results annou ...

  47. Music Stocks End Dismal Week in Negative Territory

    August 05, 2011 5:20 PM EDT U.S. stock markets posted mixed gains Friday after a miserable week. The Dow fell as much as 245 points and finished the day up 61 and posting a 0.54% gain. The technology-heavy Nasdaq dropped 0.94% and the New York Stock Exchange composite fell 1 ...

  48. Sony Shares Hit 52-Week Low Amid Global Market Sell-Off

    August 05, 2011 7:56 AM EDT UPDATED: The stocks of entertainment conglomerates Walt Disney and Time Warner are now down for the year-to-date period, News Corp. closed at the same price as at the end of 2010, while CBS Corp. and Viacom remain ahead of their 2010 closing price ...

  49. Ticketmaster Now Selling Tickets at Walmart

    August 04, 2011 11:02 AM EDT Ticketmaster has partnered with Walmart to sell tickets through kiosks at hundreds of the retailer's locations around the country. Live Nation, parent company of Ticketmaster, first revealed details of a partnership with Walmart back in Febru ...

  50. Latin Power Players: Julio Vega

    August 02, 2011 12:13 AM EDT Julio Vega VP of Latin purchasing, sales and marketing for music, movies and books, Anderson Merchandisers Walmart is the biggest seller of Latin music in the United States, and the man who heads those marketing efforts, via Anderson Merchandisers ...

Pages