Economy of the United States

  1. UMPG Partners With Asda On Clothing, Downloads

    June 01, 2009 12:00 AM EDT Universal Music Publishing Group has entered into an exclusive, long-term partnership with clothing range George at ASDA in the U.K., effective June 1. Universal's song lyrics will be printed on a wide range of the British mass merchant' ...

  2. Borders To Go Online Down Under

    May 11, 2009 12:00 AM EDT Borders' Australasian retail businesses are to go online, with fully transactional sites due to be launched within the next six months. Previously known as A & R Whitcoulls, parent company REDgroup Retail acquired Borders' Australian ...

  3. RealNetworks Music Revenues Climb 16%

    May 08, 2009 12:00 AM EDT RealNetworks reported first-quarter earnings that showed an increase in music revenues to $44.1 million, 16% more than the same period last year. That's more revenue than any other business unit in the company. Helping drive this growth is an ...

  4. Disney Joins Hulu Video Site

    May 01, 2009 12:00 AM EDT Walt Disney Co will buy a 30% stake in Hulu.com, bringing popular TV shows such as "Lost" and "Grey's Anatomy" to the video Web site founded by NBC Universal and News Corp. Disney's entrance, which comes after months ...

  5. Los Tigres del Norte Onboard With Verizon

    April 23, 2009 12:00 AM EDT Verizon announced its first national partnership with a regional Mexican band, Los Tigres del Norte, at the Billboard Latin Music Conference. Flanked by Jorge and Hernan Hernández, founding members of the iconic norteño group, Ed Ruth, director of ...

  6. Indie Retailers Ready For Record Store Day

    April 17, 2009 12:00 AM EDT Despite the success of online retailers, explosion of Internet downloads and high-profile closings of Virgin Megastores and Tower Records stores, bricks-and-mortar record stores aren't all spinning toward oblivion. Although hundreds of indepe ...

  7. Amazon, Best Buy Execs Join NARM Board

    April 14, 2009 12:00 AM EDT The National Assn. of Recording Merchandisers has named to new directors to its board, Pete Baltaxe from Amazon and Ed Hogan from Best Buy. Baltaxe, Amazon's director of worldwide digital music, replaces Amazon's Peter Faricy who last fa ...

  8. NARM To Host 'Noise' Conference

    April 07, 2009 12:00 AM EDT The upcoming National Association of Recording Merchandisers annual convention, which runs June 7-10, will also serve as the host for the Noise in the Basement Creative Conference for independent music retailers, which will occur on the last two d ...

  9. Industry Vet Steve Blanck Dies

    April 06, 2009 12:00 AM EDT Dedicated talent agent and devoted Phillies fan, Steve Blanck, died February 10 in Hemet, Calif., at the age of 62. Blanck died while recovering from emergency surgery caused by his long battle with lung disease. Blanck was born in Philadelphia an ...

  10. Analysis: As CD Falls at Best Buy, Look to Mobile

    March 27, 2009 12:00 AM EDT Even though CD and DVD sales continue to fall at Best Buy, the music industry had reason to be happy with Best Buy's Q4 and fiscal 2008 earnings release earlier today . The health of the company and its engagement of the mobile sector will pr ...

  11. Best Buy Results Beat Estimates

    March 27, 2009 12:00 AM EDT Best Buy Co posted a 23% drop in quarterly profit, but its shares rose after the retailer's adjusted results topped Wall Street estimates, and it forecast full-year profit above expectations as it benefits from the closure of former rival Cir ...

  12. Analysis: Ticketmaster Q4, Fiscal Year Financial Results

    March 25, 2009 12:00 AM EDT While Ticketmaster Entertainment's earnings release last week drew some media attention, most reports missed important details revealing the company's broader market value, revenue streams and an unusual appearance by chairman of the boa ...

  13. Army Airforce Exchange Services Unloads To Wholesalers

    March 19, 2009 12:00 AM EDT The once gigantic Army Airforce Exchange Services account, which was a perennial top 10 music account in the early 1990's, has just turned over music, DVD, and video games purchasing and fulfillment to two wholesalers. In a sealed request-for ...

  14. Barnes & Noble Net Income Falls

    March 19, 2009 12:00 AM EDT While Barnes & Noble suffered a 6.2% decline in sales to $1.63 billion for the quarter ended Jan. 31, the chain was still able to generate $81.2 million in net income, which translates into $1.46 per diluted share. That compares with the $115 ...

  15. CD Album Sales Hold Steady In Germany

    March 19, 2009 12:00 AM EDT The German recorded music market has reported a decline in overall revenue for the 10th year in succession, but CD albums have not seen the double-digit year-on-year decline of other territories. In Berlin today (March 19), the German music indust ...

  16. Concord Music Group Co-owner Hal Gaba Dies Aged 63

    March 13, 2009 12:00 AM EDT Hal Gaba, the chairman and co-owner of Concord Music Group, co-chairman of Village Roadshow Pictures, and CEO of ACT III Communications, passed away on Monday (Mar. 9) of cancer. He was 63. Born in Oakland, California in 1946, Gaba went on to rece ...

  17. Amazon Starts Game Trades

    March 06, 2009 12:00 AM EST Amazon.com Inc will allow shoppers to trade in used video games for store credit, a move that may challenge a core driver of profitability for No. 1 U.S. game retailer GameStop Corp. GameStop shares fell 13% on Thursday, after Amazon set the trial ...

  18. Prince's New 3 CD Set Gets Target Exclusive

    March 03, 2009 12:00 AM EST Prince is coming to a Target near you. The superstar is releasing a three-disc CD set through the retailer at the end of this month. The set will include two new albums — "LOtUSFLOW3R" and "MPLSoUND" — as well as a third by his ...

  19. Live Nation-Ticketmaster Merger Would Transform Resale Market

    February 27, 2009 12:00 AM EST Anxiety is running high among ticket resellers over the proposed merger between Live Nation and Ticketmaster Entertainment. Most secondary ticketing companies believe that the combination of the two live entertainment behemoths would give the newl ...

  20. Consultant Spills On Warner Music's ISP Plan

    February 27, 2009 12:00 AM EST A few more details about Warner Music Group’s proposal to issue blanket music licenses to ISPs trickled out at the Digital Music Forum East conference this week, where industry consultant Jim Griffin—the man behind the plan—was a featured speaker. ...

  21. News Corp President Chernin Leaving

    February 24, 2009 12:00 AM EST News Corp president and COO Peter Chernin will leave after 12 years on the job, depriving the media conglomerate of its second-highest ranking executive as it deals with a severe decline in advertising revenue. Chernin, 57, is a well-regarded Holl ...

  22. Potential Live Nation-Ticketmaster Merger Sparks Worries

    February 13, 2009 12:00 AM EST Two live entertainment giants that spent nearly two years maneuvering for advantage are now entwined in an ardent embrace. It surprised no one when the proposed merger of Live Nation and Ticketmaster Entertainment triggered an antitrust probe by t ...

  23. Live Nation Investor Backs Merger, Opposes Diller

    February 13, 2009 12:00 AM EST The largest shareholder in Live Nation Inc said on Friday he is concerned about the role Barry Diller will play if the concert promoter merges with Ticketmaster Entertainment Inc. Sam Shapiro, chairman in Shapiro Capital Management, which holds ar ...

  24. Rhapsody Revenue Up 14%

    February 13, 2009 12:00 AM EST RealNetworks released fourth quarter 2008 earnings that show music revenues for the company increased 8% from the same period last year, to $43.9 million. The company does not break down specific revenues for the Rhapsody subscription service, but ...

  25. Live Nation, Ticketmaster Merger: Rapino & Azoff Talk

    February 11, 2009 12:00 AM EST The much-anticipated merger agreement between Live Nation and Ticketmaster to create Live Nation Entertainment brings together two of the most influential players in the music industry: Ticketmaster Entertainment/Front Line Management CEO Irving A ...

  26. Live Nation, Ticketmaster Merger: Conference Call Notes

    February 10, 2009 12:00 AM EST During an investor conference call regarding their pending merger, Ticketmaster chairman Barry Diller, Ticketmaster Entertainment CEO Irving Azoff, and Live Nation CEO Michael Rapino provided several insightful comments. Diller opened the call by ...

  27. Live Nation, Ticketmaster Merger Confirmed

    February 10, 2009 12:00 AM EST The announcement the music industry has been waiting for has come: a definitive merger agreement between Live Nation and Ticketmaster to create Live Nation Entertainment. The move combines Live Nation, the world's largest concert promotion fi ...

  28. News Corp Posts Steep Loss On Writedown

    February 06, 2009 12:00 AM EST Rupert Murdoch's News Corp posted its biggest ever quarterly net loss, after taking an $8.4 billion writedown for the value of its Dow Jones acquisition, broadcasting licenses and other assets. Excluding the charge, the results missed Wall St ...

  29. Report: EchoStar Amasses Sirius XM Debt

    February 05, 2009 12:00 AM EST Charles Ergen's EchoStar Corp has quietly accumulated a substantial portion of Sirius XM Satellite Radio Inc's maturing debt in what could be the first salvo in an attempt to take control of the company, the Wall Street Journal said, cit ...

  30. Magazine Distributors Clash With Publishers

    February 05, 2009 12:00 AM EST The parent companies of Anderson Merchandisers and Alliance Entertainment -- the two largest music industry wholesalers -- are caught up in a high stakes and high profile spitting contest with the biggest U.S. magazine publishers. In a move initia ...

  31. The Fray Partner With Rhapsody

    February 03, 2009 12:00 AM EST The Fray star in the latest campaign from online music service Rhapsody that launches this week. Timed to coincide with the release of the group's new album, "The Fray," (Epic) the campaign includes two TV spots, free album streamin ...

  32. Rhapsody America Sees Valuation Decline

    February 03, 2009 12:00 AM EST In advance of its quarterly earnings call, RealNetworks pre-released financial details that, among other things, suggest the Rhapsody America subscription service is not worth as much as it once was. RealNetworks sold 49% of the Rhapsody service t ...

  33. Holiday Sales Boost Amazon.com Results

    January 30, 2009 12:00 AM EST Amazon.com's success over the holiday sales period helped the online retailer achieve strong Q4 results in 2008, with net income up 9% on the previous year to $225 million for the period ending Dec. 31. The 2007 Q4 net income figure was $207 ...

  34. Best Buy CEO Eyes Bankrupt Retailer Locations

    January 29, 2009 12:00 AM EST U.S. electronics retailer Best Buy Co could take advantage of bankruptcies in the sector by snapping up vacant store locations, but remains cautious as consumer spending continues to slide. "We are looking at some of those [stores], but our f ...

  35. Best Buy Taps President/COO Dunn As New CEO

    January 21, 2009 12:00 AM EST Best Buy Co. Inc. laid out a succession plan Wednesday, saying Brian J. Dunn, its president and COO, will take over this summer as chief executive of the nation's largest consumer electronics chain. The 48-year-old, who began working at the c ...

  36. Dynasty Expands To Canada

    January 20, 2009 12:00 AM EST American indie record label and distributor, Dynasty Records, has launched a Canadian division, the company announced today. The company, which was operated in the U.S. for two decades says it will offer Canadian artists "unprecedented access ...

  37. Circuit City To Liquidate Remaining US Stores

    January 16, 2009 12:00 AM EST Circuit City Stores Inc., the nation's second-biggest consumer electronics retailer, said Friday it had run out of options and will be forced to liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of th ...

  38. Microsoft Mulls Job Cuts: Report

    January 15, 2009 12:00 AM EST Microsoft Corp is considering significant layoffs across its various divisions, The Wall Street Journal reported, citing people familiar with the company's plans. But plans for the cutbacks have not yet been firmed up and Microsoft could end ...

  39. Circuit City Still In Talks Over Potential Sale

    January 15, 2009 12:00 AM EST Circuit City Stores concluded the first day of an auction and said it was still in talks with bidders regarding a potential sale of the company or certain assets. Lawyer Ian Fredericks of Skadden Arps Slate Meagher & Flom LLP, which represents ...

  40. Borders Names Chairman

    January 13, 2009 12:00 AM EST Borders Group Inc said on Tuesday that Richard "Mick" McGuire, an outgoing partner at Pershing Square Capital Management, will become non-executive chairman at the bookseller, sparking a jump in its shares. The appointment is the latest ...

  41. Times Square Virgin Megastore To Close

    January 13, 2009 12:00 AM EST The Times Square Virgin Megastore, which is the highest volume music store in the U.S., will shut down come April. The store has been at the center of speculation since August 2007 when the Virgin Entertainment Group North America was acquired by ...

  42. Best Buy Narrows Full-Year Profit Forecast

    January 09, 2009 12:00 AM EST Best Buy Co, the top consumer electronics retailer, narrowed its full-year profit forecast on Friday after posting a 6.5 percent drop in December same-store sales during the worst U.S. holiday shopping season in nearly 40 years. The retailer said ...

  43. Circuit City Says In Deal Talks With Two Parties

    January 09, 2009 12:00 AM EST Circuit City Stores Inc said on Friday that it was in deal talks with two parties that could either buy the bankrupt electronics chain or provide additional financing. Mexican retail and media mogul Ricardo Salinas Pliego, who has built up a stake ...

  44. Digital Briefs: PassAlong, Yangaroo, 'Body By Jake'

    January 05, 2009 12:00 AM EST - PassAlong Networks named Ray Gary as its first president. Gary formerly was president and managing director of Koch Ventures. He will report to CES Dave Jaworski and will be based in the company's Franklin, Tenn., headquarters. - Yangaroo, ...

  45. Blackout Looms As Time Warner, Viacom Talks Stall

    December 31, 2008 12:00 AM EST Viacom Inc and Time Warner Cable remained at a standoff on Wednesday, but were hopeful that top executives would step in to resolve a dispute that threatens to prevent more than 13 million U.S. subscribers from seeing "Dora the Explorer" ...

  46. Amazon Claims Record Holiday Orders

    December 29, 2008 12:00 AM EST Online retailer Amazon.com Inc reported its best holiday sales season yet, even as sales and traffic at U.S. store chains were the weakest in decades. Analysts have pointed to Amazon as a rare bright spot in this year's holiday shopping seaso ...

  47. Wal-Mart Starts Selling iPhones

    December 29, 2008 12:00 AM EST Wal-Mart Stores Inc began selling Apple Inc's iPhone on Sunday, but the popular cell phones that can surf the Web are not priced as low as some anticipated. Wal-Mart is selling the black 8-gigabyte iPhone 3G model, which also holds about 2,00 ...

  48. Lawsuit Against Warner Chief Dismissed

    December 23, 2008 12:00 AM EST An appellate court dismissed the remaining two claims in a lawsuit brought against Warner Music Group chief executive Edgar Bronfman Jr. by a former CEO of publisher Simon & Schuster who claimed he helped conceive the 2003 buyout of Warner but ...

  49. NYSE Warns Entravision

    December 17, 2008 12:00 AM EST Entravision Communications, operator of primarily Spanish-language radio and television stations, has received a warning from the New York Stock Exchange that its shares are trading below the average minimum required for listing on the exchange. T ...

  50. Circuit City Auction Canceled For Lack Of Interest

    December 17, 2008 12:00 AM EST Bankrupt electronics chain Circuit City Stores Inc did not receive enough bids on leases for stores it plans to shutter, forcing it to cancel an auction set for Thursday, a company spokesman said on Wednesday. Circuit City, the second-largest U.S. ...

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