Financial economics

  1. Edge Group Targets U.S. Live Biz

    September 26, 2007 12:00 AM EDT London-based Edge Group is looking to broaden its live music investment portfolio on the other side of the Atlantic. The media investment and advisory firm's founder David Glick is heading to N.Y. today (Sept. 26) for a slate of meetings to b ...

  2. Terra Firma Chief: No Plans To Sell EMI Music

    September 14, 2007 12:00 AM EDT Terra Firma chief executive Guy Hands said Friday the private equity venture had no plans to sell its ailing recorded music division, despite how badly the company had been run. EMI, which parted company with former CEO Eric Nicoli and finance dir ...

  3. EMI Shares Fall On Terra Firma Financing Concerns

    July 26, 2007 12:00 AM EDT Shares of U.K. music company EMI Group Plc closed down 5.2% on Wednesday as concerns grew that its private equity buyer Terra Firma was having trouble securing financing for the deal. Terra Firma and adviser Citigroup were haggling over the terms ...

  4. Terra Firma Closing In On EMI

    July 20, 2007 12:00 AM EDT More than a quarter of music giant EMI's shareholders have accepted Terra Firma's takeover offer, the European private equity firm said today. By 1pm ET yesterday (July 19), Terra Firma's proposal had garnered 26.19% acceptance amon ...

  5. Terra Firma Extends EMI Bid Timeline

    July 05, 2007 12:00 AM EDT European private-equity firm Terra Firma has extended the deadline to July 12 on its £2.4 billion ($4.84 billion) acquisition bid for EMI Group Plc. Terra Firma issued a statement Wednesday declaring that the offer "is being extended and will ...

  6. Guitar Center To Be Bought For $2.1 Billion

    June 27, 2007 12:00 AM EDT Guitar Center Inc. has agreed to be acquired by private equity firm Bain Capital Partners LLC for about $1.9 billion plus assumed debt. Total value of the transaction, expected to close in the fourth quarter, is approximately $2.1 billion includin ...

  7. Private Equity Firm Seen In Chrysalis Radio Talks

    June 13, 2007 12:00 AM EDT Media company Chrysalis Group is in talks with an unnamed private equity group over the sale of its radio unit, a source familiar with the situation told Reuters on Wednesday. Chrysalis said in February it had launched a strategic review that coul ...

  8. Crossroads, Bug Sweep Up Windswept

    May 30, 2007 12:00 AM EDT Crossroads Media and Bug Music have acquired music publisher Windswept Holdings, Billboard.biz has learned. Tokyo-based Fujipacific Music and Fuji Television Network each held a 50% share in the U.S.-based Windswept Holdings. The publisher was for ...

  9. Fifield Interested In EMI Bid

    May 25, 2007 12:00 AM EDT Former EMI chief Jim Fifield is interested in potentially making an offer for EMI Group plc. In a statement issued to the London Stock Exchange by Corvus Capital, the investment management firm said it had been working with Fifield on a bid before ...

  10. Warner In The Mix For EMI Group Bid?

    May 18, 2007 12:00 AM EDT EMI Group is understood to have opened its books up to a slew of potential suitors, including Warner Music Group. Warner Music Group has been quiet of late, with regards to its evergreen interest in EMI. WMG had earlier put forward an offer, which ...

  11. Eagle Rock Buys Back HG Interest

    May 14, 2007 12:00 AM EDT U.K.-based Eagle Rock Group Ltd. management, aided by private equity firm Beringea and edel Music AG, has bought back the company from HG Capital, which had a 68% interest in the company since 2001. Terms of the deal were not disclosed. Eagle Rock ...

  12. Update: Interest For EMI Heats Up

    May 08, 2007 12:00 AM EDT Many Londoners know the feeling. You wait an age for a bus, then three come along at once. EMI Group has been waiting some time for that metaphorical bus. And as it so happens, three have come along. As reported here last week, the London based ma ...

  13. EMI Suitors Circle, Stock Soars

    May 04, 2007 12:00 AM EDT British music major EMI Group plc said Friday it has received "a number" of approaches for its business. The company confirmed the situation in a concise statement issued this morning to the London Stock Exchange and posted on EMI's ...

  14. RoyaltyShare Secures $5 Million In Funding

    April 30, 2007 12:00 AM EDT RoyaltyShare, which offers digital royalty solutions to the entertainment industry, has secured a $5 million Series B round of financing. It will be used to expand its operations, with regional offices to open in New York, Los Angeles and Europe l ...

  15. Goldman Sachs Buys Stake In Japan's Usen

    April 20, 2007 12:00 AM EDT Goldman Sachs Group said April 19 that it will buy just over 18% of Tokyo-based Usen for ¥25 billion ($211.6 million), making it the Japanese cable-and-Internet company's second-largest shareholder. The New York-based brokerage will buy 24.51 ...

  16. Famous Bidders Make Their Move

    April 12, 2007 12:00 AM EDT Letters of intent to bid on Famous Music Publishing were due yesterday to financial services firm UBS, which is managing the sale for Famous parent company Viacom. Viacom first publicly hinted at its intent to sell the publishing unit in February ...

  17. Heads To Roll As MTV Restructures Int'l Biz

    March 01, 2007 12:00 AM EST MTV has today confirmed an international restructuring which it says may result in 250 job losses, or roughly 8% of its workforce. The broadcaster's London-based U.K. operation will be affected, the company said in a statement, as will its re ...

  18. Ingenious Forms JV With Peter Gabriel's Real World

    January 23, 2007 12:00 AM EST The two venture capital trusts (VCTs) of London-based Ingenious have made a further joint investment, totaling £2 million ($3.9 million), supporting the North American release of Peter Gabriel's next solo album. The investment will be made th ...

  19. Cecillon, Hanson Rise At EMI Music

    January 18, 2007 12:00 AM EST The restructuring of EMI Group has begun, following the Jan. 12 departure of EMI Music chairman/CEO Alain Levy and vice-chairman David Munns. In the first visible signs of EMI's post-Levy structure, EMI Music Continental Europe chairman/CEO J ...

  20. EMI Calls Quits With Buyout Bidder

    December 14, 2006 12:00 AM EST EMI Group's brief flirtation with a potential new private equity owner has finished, at least for now. In a brief statement issued this morning (Dec. 14) to the London Stock Exchange, the music major confirmed that discussions on a potential ...

  21. EMI Group Acquisition Still In Question

    December 08, 2006 12:00 AM EST EMI Group plc has declined to comment on speculation that it is close to a deal to be acquired by a private-equity group. A Dec. 8 report on The Wall Street Journal Online claims that Permira Advisers, the European private-equity company, is the b ...

  22. Permira Keeps Mum On EMI Takeover Reports

    November 29, 2006 12:00 AM EST Representatives of Permira are staying silent on reports that the private equity firm is eyeing up a takeover of EMI Group Plc. Representatives of Permira are staying silent on reports that the private equity firm is eyeing up a takeover of EMI Gr ...

  23. Permira Keeps Mum On EMI Takeover Reports

    November 29, 2006 12:00 AM EST Representatives of Permira are staying silent on reports that the private equity firm is eyeing up a takeover of EMI Group Plc. Representatives of Permira are staying silent on reports that the private equity firm is eyeing up a takeover of EMI Gr ...

  24. EMI Confirms Approach

    November 28, 2006 12:00 AM EST EMI Group plc is the target of a takeover. The British music major confirmed in a statement to the London Stock Exchange today (Nov. 28) that it has "received a preliminary approach for the company which may or may not lead to an offer being ...

  25. EMI Confirms Approach

    November 28, 2006 12:00 AM EST Stock soars more than 10%. EMI Group plc is the target of a takeover. The British music major confirmed in a statement to the London Stock Exchange today (Nov. 28) that it has "received a preliminary approach for the company which may or may ...

  26. Clear Channel Agrees To $18.7B Buyout

    November 16, 2006 12:00 AM EST Clear Channel Communications Inc., the nation's biggest radio station owner, said Thursday (Nov. 16) it has agreed to be taken private for about $18.7 billion by an investment group. Clear Channel Communications Inc., the nation's bigges ...

  27. Ingenious Promotes Live Entertainment Investment

    November 13, 2006 12:00 AM EST Establishes two new venture capital trusts. London-based Ingenious has launched two new live entertainment venture capital trusts to invest in companies producing and promoting new and established live events. The venture capital trusts (VCTs), ca ...

  28. Sources: Clear Channel Bids Due In Coming Days

    November 10, 2006 12:00 AM EST Company declines to comment. Bids are due in the coming days for Clear Channel Communications Inc., the largest U.S. radio company, sources familiar with the situation told Reuters on Nov. 9. Clear Channel, which has about 1,150 stations, said las ...

  29. EMI Group Talks Joint Venture With Bandier

    October 30, 2006 12:00 AM EST Equity stake in new venture among Bandier's options. Equity stake in new venture among Bandier's options. News ...

  30. Clear Channel Hires Goldman, Sachs

    October 26, 2006 12:00 AM EDT In a move that could bust up the nation's largest radio group, Clear Channel revealed late Wednesday (Oct. 25) it had retained Goldman, Sachs & Co. to "evaluate various strategic alternatives to e In a move that could bust up the ...

  31. Radius Equity Out Of Tower Records Bidding

    October 05, 2006 12:00 AM EDT Trans World considered favorite. Radius Equity— considered the "white knight" in the bidding for Tower Records —failed to put together financing in time for the Chapter 11 auction of the troubled chain. The auction began today in the off ...

  32. Bidders Set For Tower Records Auction

    October 03, 2006 12:00 AM EDT Trans World viewed as likely front-runner. Although 16 bidders have come forward to participate in the Chapter 11 auction of Tower Records on Thursday (Oct. 5), odds are the chain will either be acquired by Trans World Entertainment or liquidated ...

  33. Napster Explores Sale Of Company

    September 18, 2006 12:00 AM EDT Has hired investment banking firm UBS. Has hired investment banking firm UBS. News ...

  34. Britain Rocks N.Y. Gig Postponed

    September 14, 2006 12:00 AM EDT The "Britain Rocks New York" tribute concert, which was planned for Sept. 27 at the Nokia Theater in New York, has been postponed until late April 2007. The "Britain Rocks New York" tribute concert, which was planned for Sept. ...

  35. Britain Rocks N.Y. Gig Postponed

    September 14, 2006 12:00 AM EDT Organizers look to late April 2007. The "Britain Rocks New York" tribute concert, which was planned for Sept. 27 at the Nokia Theater in New York, has been postponed until late April 2007. According to sources, sponsors have asked for th ...

  36. Tower On Shaky Ground, Again

    August 11, 2006 12:00 AM EDT Retailer on verge of another Chapter 11. Tower Records is facing an imminent Chapter 11. That’s a certainty, according to top major-label distribution and financial executives, all speaking on condition of anonymity. But what kind of filing will i ...

  37. Ex-Warner/Chap Exec Forms Crosstown Songs

    August 04, 2006 12:00 AM EDT Music publisher backed by private equity fund. Music publisher backed by private equity fund. News ...

  38. Shareholder Sues Over Univision Sale

    July 03, 2006 12:00 AM EDT Filing alleges Univision board of selling at an unfair price. A shareholder has filed a proposed class action suit against Univision Communications, trying to stop the acquisition of the company by a group of private equity investors. The suit, fi ...

  39. Report: EMI Lines Up BMG Publishing Buy

    June 26, 2006 12:00 AM EDT Stock rises on private equity news. Stock rises on private equity news. News ...

  40. Warner Music Strikes Deal With China Unicom

    June 20, 2006 12:00 AM EDT Warner Music China has forged a groundbreaking union to distribute its digitalized catalog to users of mobile operator China Unicom, which claims to be the third largest such company in the world. Warner Music China has forged a groundbreaking uni ...

  41. Source: Alliance, Tower To Have New Ownership Soon

    June 09, 2006 12:00 AM EDT Bids due June 9 for Tower. Two of the largest accounts in the music business may soon have new owners. Sources say that publicly traded Source Interlink, the parent of Alliance Entertainment Corp. (AEC), is being shopped by Deutsche Bank Securitie ...

  42. WMG Declares Quarterly Dividend

    June 07, 2006 12:00 AM EDT Warner Music Group declared today (June 7) a regular quarterly dividend of 13 cents per share as part of a $19.3 million payout to investors. The dividend is based on 148.5 million outstanding shares Warner Music Group declared today (June 7) a re ...

  43. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  44. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  45. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  46. Retail Track

    May 22, 2006 12:00 AM EDT Some vendors are heartened that a Wall Street private equity firm is investing in a big way in an entertainment packaged goods wholesaler. But don't break out the champagne just yet. Read Ed Christman Some vendors are heartened that a Wall St ...

  47. Sanctuary Says Results On Target

    April 28, 2006 12:00 AM EDT Earlier financial accounts to be restated. Sanctuary Group plc today (April 28) admitted it would restate previous financial accounts but said that expectations for its underlying business remained on track. Underlying current trading remains &quo ...

  48. SEC Hits Promoter With Lawsuit

    April 19, 2006 12:00 AM EDT Utsick sued in connection with fraudulent offering. The Securities and Exchange Commission (SEC) filed a civil lawsuit in the U.S. District Court for the Southern District of Florida on Monday charging promoter Jack Utsick and his Worldwide Entert ...

  49. WMG To Acquire Rykodisc

    March 24, 2006 12:00 AM EST Deal believed to be valued at $67.5 million. The Warner Music Group is on the verge of signing an agreement to buy Rykodisc, sources say, in a deal believed to be valued at $67.5 million that is expected to close at the end of April. Rykodisc, whi ...

  50. Warner Music Group To Pay $19.3M In Dividend

    March 14, 2006 12:00 AM EST cents a share to be issued. Warner Music Group declared a quarterly dividend of $0.13 per share of common stock, representing an aggregate quarterly dividend of approximately $19.3 million. The dividend is payable May 3, 2006. This aggregate nu ...

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