Economy of the United States

  1. Judge Denies Citigroup's Effort To Dismiss Terra Firma Suit

    March 24, 2010 12:00 AM EDT A judge has denied Citigroup's effort to dismiss a lawsuit filed against the company by Terra Firma. Citigroup had filed a motion with the U.S. Federal Court in the Southern District of New York to move the venue to London. In its lawsuit, Te ...

  2. Hot Topic Revenue, Profit Drops In Q4, 2009

    March 11, 2010 12:00 AM EST Hot Topic earned $8 million in its 2009 fiscal fourth quarter (ending January 30) and $12 million for the full year, according to its Wednesday earnings release . The teen retailer reported fourth quarter revenue of $214 million, down from $238 mi ...

  3. Billboard.biz Q&A: Comcast-Spectator President

    March 09, 2010 12:00 AM EST On the heels of the just completed acquisition by Comcast-Spectator of ticketing software company Paciolan , Comcast-Spectator president Peter Luukko spoke with Billboard.biz about the steps that led to the merger, how the company intends to compe ...

  4. Done Deal: Comcast-Spectacor Buys Live Nation's Paciolan

    March 09, 2010 12:00 AM EST Comcast-Spectacor, the Philadelphia-based sports and entertainment firm, has completed its acquisition of ticketing software provider Paciolan from Live Nation Entertainment. Terms were not disclosed. As a result of the acquisition, Comcast-Specta ...

  5. Second Wave Of Job Cuts At Borders Inc

    March 09, 2010 12:00 AM EST Borders Inc has made a second round of job cuts, following the redundancies in which 164 positions were culled at the end of January. Publishers Weekly is reporting that employees of the retailer have dubbed the day on which last week's wave ...

  6. Trans World Continues Losing Streak

    March 08, 2010 12:00 AM EST Entertainment retailer Trans World reported net income of $11.4 million in its fiscal fourth quarter ending January 30, 2010. Total sales dropped 14% to $295.4 million from $344.7 million in the prior year. For the fiscal year, total sales dropped ...

  7. Second Lawsuit Filed Over Terra Firma’s EMI Acquisition

    March 05, 2010 12:00 AM EST Citigroup is being sued by Colorado-based Sungate Securities, an investor in Terra Firma, over allegations the bank hid conflicts of interest during the sale of EMI, according to Bloomberg . This is the second lawsuit surrounding Terra Firma’s 4 b ...

  8. Live Nation Gets Nod of Approval From Investors

    March 03, 2010 12:00 AM EST Live Nation's stock is up 7.4% in the last five trading days, and rose 3.2% on Wednesday. The Nasdaq has gained just 1.64% in the last five trading days, while the S&P 500 is up 0.9%. Investors reacted positively to news on Wednesday that ...

  9. Live Nation, Wal-Mart Sign Ticketing Partnership

    February 12, 2010 12:00 AM EST Live Nation Entertainment chairman Irving Azoff said the company has entered into an agreement to partner with Wal-Mart to offer tickets at Wal-Mart stores in select markets across the U.S. His remarks came during a panel discussion at the NBA Tec ...

  10. RealNetworks Losses $13 Million In Q4

    February 11, 2010 12:00 AM EST Investors reacted well to news that RealNetworks' will spin off Rhapsody unit. Shares rose 5.5% on Wednesday and increased another 4.1% on Thursday, closing at $4.57. Before the end of the trading day on Thursday, RealNetworks announced it ex ...

  11. Veoh Closing Down, UMG Lawsuit Blamed

    February 11, 2010 12:00 AM EST Online video sharing site Veoh is going out of business. The AllThingsD blog says it cut the entire staff yesterday and a bankruptcy filing is expected soon. So far no word on exactly what happened, but one of Veoh's boardmembers, Todd Dagres ...

  12. RealNetworks To Spin Off Rhapsody

    February 09, 2010 12:00 AM EST RealNetworks today unveiled plans to spin off the Rhapsody America music subscription service into an independent company. Rhapsody America is a joint venture between RealNetworks and MTV Networks, formed after MTV shuttered its URGE music service ...

  13. Analysis: How Much Is A Good Music Service Worth To A Large ISP?

    February 04, 2010 12:00 AM EST Just how much is a good music service worth to a large ISP? Hundreds of millions of dollars over just a few years, based on a Billboard estimate of the cost of churn (the rate at which subscribers leave) to a large broadband provider. Churn carrie ...

  14. Amazon Blows By Estimates, Sees Strong Q1

    January 29, 2010 12:00 AM EST Amazon.com Inc blew past analysts' profit estimates in its closely watched holiday quarter and forecast revenue for early 2010 that topped already-high Wall Street expectations. The world's largest online retailer has been viewed as a wi ...

  15. Downloads Drop Again At Verizon Wireless

    January 27, 2010 12:00 AM EST In another sign of shifting mobile music consumption, over-the-air downloads at Verizon Wireless were flat last quarter even though wireless subscribers grew. Tucked away in Verizon’s earnings report on Tuesday was a mention that audio and video d ...

  16. Liberty Media Seeks Bigger Stake In Live Nation

    January 26, 2010 12:00 AM EST Liberty Media Corp offered to buy up to 34.5 million shares in the newly merged Live Nation Entertainment at a 14% premium, sending the concert promoter's shares up 13%. Liberty already owns a 14.6% stake in Live Nation, which completed an $8 ...

  17. Live Nation's Newest Challenges

    January 26, 2010 12:00 AM EST Live Nation and Ticketmaster may have breathed a deep sigh of relief when the Department of Justice finally approved its merger on Monday, but in accepting a number of significant mandates from the DOJ, Live Nation Entertainment is expected to fac ...

  18. UMG Layoffs Claim Digital Execs Christian Jorg, Mark Lehmann

    January 15, 2010 12:00 AM EST While new media and digital positions are typically immune from the downsizing taking place across the music industry, Billboard has learned Universal Music Group's layoffs this week included Island Def Jam senior VP of new media and Commerce ...

  19. Clear Channel Radio Launches Ad System

    January 14, 2010 12:00 AM EST Clear Channel Radio is rolling out a proprietary system that allows advertisers to more precisely place units against programming content or other ads. Three advertisers -- Visa, Geico and Walmart -- have tested the technology, which works much li ...

  20. RealNetworks CEO Glaser Resigns

    January 13, 2010 12:00 AM EST Rob Glaser has resigned his position as CEO of Rhapsody parent company RealNetworks. He will retain his role as chairman of the board. Taking his place is Robert Kimball, who will serve as president and acting CEO. Kimball was most recently genera ...

  21. SoundScan Re-works Indie Retailer Classification

    January 12, 2010 12:00 AM EST Beginning this week, Nielsen SoundScan has altered the way it categorizes independent retailers, a move that will shift regional chains into the same category with small stores. The move will likely give the indie retailers more clout in the marke ...

  22. Analysis: Events To Watch In Early 2010

    December 31, 2009 12:00 AM EST The year will get off to a fast start as early 2010 will contain important events for numerous segments of the music industry. In retail, the holiday performance of Trans World will show whether or not the company has started to turn a corner. In ...

  23. Business Matters: TuneCore, Lala, 2010 Trends To Watch

    December 23, 2009 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- For getting songs immediately to download stores - rather than opt for a future street date - Amazon.com was found in one trial to be the faste ...

  24. Proposed Ticketmaster-Live Nation Merger: What To Expect Next

    December 22, 2009 12:00 AM EST When the $2.5 billion Ticketmaster-Live Nation merger received the green light from the U.K. Competition Commission on Tuesday (Dec. 22), that left all eyes turned toward U.S. and Canadian regulators who are reviewing the proposed combined company ...

  25. U.K. Regulator's U-Turn On Ticketmaster, Live Nation

    December 22, 2009 12:00 AM EST In its ruling today (Dec. 22), the Competition Commission (CC) completely changed its position on the proposed merger of Live Nation and Ticketmaster in the U.K. Such an about-turn for the U.K. regulator is "unusual" according to Simon B ...

  26. U.K. Body Approves Ticketmaster, Live Nation Merger

    December 22, 2009 12:00 AM EST Ticketmaster and Live Nation have welcomed the Competition Commission's (CC) decision to clear the proposed merger of the companies in the U.K. The CC has concluded today (Dec. 22) that the merger will not result in a substantial lessening of ...

  27. New Site Launched Against Ticketmaster-Live Nation Merger

    December 16, 2009 12:00 AM EST Members of Congress, public interest advocates and ticket brokers have teamed up to launch a new Web site that aims to inform the public about the possible impact of the proposed merger between Ticketmaster and Live Nation. The site, ticketdisaste ...

  28. Retailers: Chris Brown Album 'Overstocked'

    December 14, 2009 12:00 AM EST Chris Brown's rant that U.S. music retailers are boycotting his new album "Grafitti," appears to be unfounded. Brown took to his Twitter account - which is now inactive - over the weekend to complain about the fulfillment and displa ...

  29. Amazon Denies Plan To Open Bricks-And-Mortar Stores

    December 07, 2009 12:00 AM EST Amazon has denied reports that it has embarked on a "secret search for bricks-and-mortar stores" in the U.K., in what was thought to be a move to pick up on customer demand for "click and collect" services. The original report, ...

  30. Business Matters: We7, Live Nation, Ticketmaster

    December 03, 2009 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- Continuing its series on executive Q&As on the topic of ad-supported music, Music Ally talks to We7's Steve Purdham . While Purdham� ...

  31. Cyber Monday Misses Music: The Biz Waits For Cyber Week After Christmas Instead

    December 02, 2009 12:00 AM EST While Cyber Monday managed to create a stir in most of the retail world, the music industry is waiting for the last week of December and the first week of January for its digital music bonanza. That's when stores like iTunes realize sales fro ...

  32. Retailers: Holiday Selling Season Off To A Decent Start

    December 01, 2009 12:00 AM EST The holiday selling season got off to a decent start for retailers, even if overall music sales didn't quite match expectations. Susan Boyle's "I Dreamed A Dream" was by far the bright spot over the Black Friday weekend, with i ...

  33. Third Distributor Suspends Supply With Borders U.K.

    November 24, 2009 12:00 AM EST A third distributor has suspended supplies with Borders U.K., while wholesaler Gardners is also understood to have ceased trading with the chain. Meanwhile, administrator BDO Stoy Hayward has refused to comment on reports that it could be appointe ...

  34. Court Rules In Favor In WMG Chairman Bronfman

    November 23, 2009 12:00 AM EST Warner Music Group chairman Edgar Bronfman Jr. scored another legal victory on Monday. The New York State Court of Appeals upheld a previous court ruling dismissing a $100 million lawsuit filed against Bronfman two years ago by Simon & Schuste ...

  35. Belgium's Sonica Retail Group Files For Bankruptcy

    November 20, 2009 12:00 AM EST The Sonica Group of Belgian entertainment and electronics retailers has filed for bankruptcy with the Brussels court of commerce and 421 staffers of the company were laid off Nov. 18. Meanwhile, the official receivers have announced to aim for a c ...

  36. Analysis: Hollywood's Digital Struggle

    October 21, 2009 12:00 AM EDT Because many parts of the entertainment industry share the same travails and futures, it is worth keeping up with the goings on and the opinions of leaders in the film industry. Music and movie share painful transitions to digital from physical an ...

  37. JB Hi-Fi Expands Store Opening Program

    October 14, 2009 12:00 AM EDT Australian music, home entertainment and electronics retailer JB Hi-Fi defied the wider economic malaise to blast 8.4% comparable-store growth in the first quarter of its current financial year. Furthermore, JB is so confident in its approach to r ...

  38. Live Nation Goes With Coke

    October 06, 2009 12:00 AM EDT Live Nation has forged a multi-year sponsorship and marketing alliance with Coca-Cola that makes Coke the official soft drink in most Live Nation venues in the United States. The deal will seek to leverage Live Nation's artist-to-fan distribu ...

  39. Dylan Album Goes For Early Sales To Citi Customers

    September 30, 2009 12:00 AM EDT The times they are a-changin', and Bob Dylan's surprise decision to release his first Christmas album next month now comes with a banking tie-in that would have been unimaginable during the singer's 1960s protest years. Citibank sai ...

  40. Live Nation, Ticketmaster Chiefs Talk Strategy

    September 10, 2009 12:00 AM EDT At Wednesday’s Bank of America Merrill Lynch Media, Communications and Entertainment Conference, Ticketmaster CEO Irving Azoff and Live Nation President and CEO Michael Rapino talked about the future of their businesses and the need for their comp ...

  41. Sponsors Sign for Univision's Music Competition Show

    August 28, 2009 12:00 AM EDT Univision has signed AT&T, Bud Light, Coca-Cola, State Farm and Target as title sponsors of its upcoming American Idol-like music competition, Viva el Sueño! (Live the Dream!). The series will feature aspiring professional artists who have not ...

  42. Lawmakers Want Ticketmaster/Live Nation Probe

    July 28, 2009 12:00 AM EDT The proposed merger of ticketing giant Ticketmaster and Live Nation, the world's largest concert promoter, should be closely scrutinized by the Justice Department, according to the chair of a Senate antitrust subcommittee and 50 members of th ...

  43. Study: Copyrights Account For $889 Billion In 'Value Added'

    July 20, 2009 12:00 AM EDT In 2007, the U.S. core copyright industries combined accounted for $889.13 billion in "value added," or 6.44%, to the $13.81 trillion in gross domestic product, according to a study prepared by Stephen E. Siwek of Economics Inc. for the ...

  44. Downer Leads Borders U.K. Management Buyout

    July 16, 2009 12:00 AM EDT Philip Downer, chief executive of Borders U.K., and finance director Mark Little have led a management buyout of the chain, backed by Valco Capital Partners (VCP). It follows the sale of five of the company's store leases to fashion retailer ...

  45. Borders U.K. In 'Advanced' Sales Talks With Hilco

    July 15, 2009 12:00 AM EDT Borders U.K. has refused to comment on a newspaper report that the chain is "in advanced talks" with private equity firm Valco Capital Partners over the possible sale of its stores. According to the Independent, Valco, a division of &quo ...

  46. Briefs: House of Blues, Joel Tenenbaum, Live Nation

    July 06, 2009 12:00 AM EDT -- Turns out Live Nation doesn’t need to merge with Ticketmaster to offer new and creative bundles to increase attendance at concerts, one of the stated benefits of a merged company. Today the concert promoter announced the “first ever” one-price ...

  47. Los Tigres del Norte Re-Up With Fonovisa

    July 01, 2009 12:00 AM EDT Los Tigres del Norte have renewed their contract with Fonovisa Records in advance of the release of their next album, "La Granja," due Sept. 8. The title track, written by Teodoro Bello, just went to radio as the first single off the alb ...

  48. NARM Video: Top Execs Address Industry Challenges

    June 09, 2009 12:00 AM EDT Representatives from 350 different music companies have descended on San Diego for the National Assn. Of Recording Merchandisers convention, which runs June 7–10, to address some of the major issues facing the industry: declining revenues, retail ...

  49. Retail Track: The New Face Of Retail At NARM

    June 07, 2009 12:00 AM EDT The new face of retailing will be front and center at this year's 51st annual NARM convention since digital, mobile and other new revenue models will be a key theme at many of the panels and all the keynote addresses. Meanwhile, the old face ...

  50. Video From E3: Nintendo, Sony, Microsoft And More

    June 03, 2009 12:00 AM EDT Nielsen Business Media correspondent Alan Frutkin reports from day one of the E3 gaming expo in Los Angeles. Mediaweek News Alan Frutkin ...

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