Goldman Sachs

  1. Spotify Said to Be Training for Its IPO, Practicing Earnings Calls (Report)

    June 23, 2014 10:20 AM EDT Since early this year, Spotify has been dropping hints that it may go public in the near future -- namely, obtaining a $200 million credit line ,  posting a job listing for an "External Reporting Specialist,"  and acquiring music intelli ...

  2. Spotify Obtains $200 Million Credit Line In Advance of Possible IPO (Report)

    March 10, 2014 12:46 AM EDT Spotify, one of the world's largest music music subscription services, has obtained a $200 million credit facility from lenders which may indicate an initial public stock offering is in the works, according to a report in the Financial Time ...

  3. Pandora, Live Nation Shares Rise High, SFX Down

    January 30, 2014 7:37 PM EST Shares of the two largest publicly traded music companies soared Thursday (Jan. 30) as markets rebounded from two days of losses. Pandora shares reached a new high of $37.95 before closing up 11% at $36.53, and shares of Live Nation climbed to a 5 ...

  4. AEG: With Tim Leiweke Out, What’s Next?

    March 14, 2013 6:06 PM EDT With Anschutz Entertainment Group off the block and the subsequent resignation of president/CEO Tim Leiweke , the question now moves from “what’s it worth?” to “what’s next?”   Bidders did not reach owner Phillip Anschutz’s magic number of arou ...

  5. AEG Will Not Be Sold After All, Tim Leiweke Leaving Company

    March 14, 2013 12:41 PM EDT Anschutz Entertainment Group owner Phillip Anschutz has taken the company off of the market and president/CEO Tim Leiweke will leave the company, according to a statement released today. Leiweke will be replaced in his roles by CFO Dan Beckerman ...

  6. Viddy Shoots for Multi-Platform with Android Release

    December 12, 2012 6:00 AM EST Viddy, the Los Angeles start-up whose 15-second mobile video application has been downloaded more than 40 million times on iOS devices, will release its eponymous app for Android devices Wednesday. Used by Justin Bieber, Snoop Dogg, Ellie Goulding ...

  7. Fred Wilson Wary on Music Investments; Questions Spotify's Valuation, Apple's Music Leadership

    November 15, 2012 6:52 PM EST Billboard's Bill Werde interviews investor Fred Wilson during the Billboard FutureSound Conference today in San Francisco. (Photo: Arnold Turner) Investor Fred Wilson ( @fredwilson ) loves music but he's still "relatively cautious&q ...

  8. Morning Fix: Artists Chastise Pandora; Nachsin Leaves Roadrunner; Nine Bidding for Parlophone

    November 15, 2012 8:15 AM EST Head HERE to subscribe to Billboard's Morning Fix email and other free music-business newsletters RIHANNA, KATY PERRY, BILLY JOEL, 122 OTHER ARTISTS TELL PANDORA: 'THAT'S NOT HOW PARTNERS WORK TOGETHER': The battle over webcast ...

  9. Business Matters: A $3 Billion Valuation Brings Spotify Expectations Back to Earth

    November 12, 2012 6:10 PM EST News that Spotify raised money at a $3 billion valuation and generated $200 million in revenue in the first half of 2012 is more like the sound of air being let out of a tire rather than a bursting bubble. The company has been hyped more than any ...

  10. Spotify Raising $100m for Expansion; Opening in Latin America, Eastern Europe Next Year

    November 11, 2012 9:00 AM EST Spotify is close to wrapping up a $100 million round of funding at a valuation of $3 billion as it prepares for expansion into Latin America and expanding further across Europe in 2013. The latest round of funding, confirmed by a source familiar w ...

  11. Universal Music-EMI Merger: UMG Struck Gold With PolyGram in the 1990s, Can They Do It Again?

    September 21, 2012 5:45 PM EDT Now that the Universal Music Group has approval to complete its acquisition of EMI's recorded music operation , it will hit the ground running to integrate the two companies, insiders say. The Universal Music Group already presided over a hig ...

  12. Universal Music-EMI Deal Expected to Be Approved by EU Friday

    September 13, 2012 7:11 PM EDT The Universal Music Group's proposed acquisition of EMI is headed for the endgame in the regulatory process. According to sources, on Friday the European Commission will put the deal and the concessions package to vote before full college of ...

  13. Morning Fix: Google's Cloud Negotiations, Adios Apple Ping, Dave Matthews' Record, Bonnaroo 2013

    September 13, 2012 7:42 AM EDT Head HERE to subscribe to Billboard's free music-business newsletters. DAVE MATTHEWS BAND HEADING FOR RECORD SIXTH STRAIGHT NO. 1 ALBUM ON THE BILLBOARD 200 Dave Matthews Band should become the first group to score six consecutive No. 1-debut ...

  14. Bertelsmann Names Marcel Reichart Executive VP of Digital Development

    June 04, 2012 7:00 AM EDT COLOGNE, Germany - Media giant Bertelsmann has appointed Marcel Reichart to the newly-created position of executive VP in charge of digital development and partnerships. Reichart joins Bertelsmann from German publishing group Hubert Burda, where h ...

  15. Spotify Raising Funding at $4 Billion Valuation: Report

    May 17, 2012 2:49 PM EDT Music subscription service Spotify is raising money at a $4 billion valuation, according to a report Thursday at the New York Times . The report says Goldman Sachs is set to invest $100 million and the round -- which will not close for "many ...

  16. GM Vs. Ford: Companies Ask If Advertising on Facebook Pays?

    May 17, 2012 6:45 AM EDT NEW YORK (AP) -- Responding to extraordinary demand, Facebook said Wednesday that it would sell more stock in the company's initial public offering. But ahead of the IPO, a debate emerged between two of the nation's largest automakers: D ...

  17. Facebook Boosts IPO Shares By 25 Percent

    May 16, 2012 9:28 AM EDT NEW YORK (AP) -- Facebook says 25 percent more shares will be sold as investors clamor for shares in the year's hottest stock offering. Facebook said in a regulatory filing Wednesday that about 421 million shares will be sold, up from 337 mil ...

  18. Business Matters: U2's Bono, the Edge Invest in Dropbox

    April 02, 2012 7:58 PM EDT U2's Bono, the Edge Invest in Dropbox -- U2's Bono and the Edge are investors in file-hosting service Dropbox, the company announced via Twitter. A picture included with the tweet shows the two musicians with Dropbox co-founders Drew Hou ...

  19. SESAC for Sale, Owners Seeking $500 Million: Report

    February 15, 2012 8:45 AM EST SESAC's owners, which include investment bank Allen & Co. and hedge fund Och-Ziff, are seeking approximately $500 million for performing-rights organization, according to the New York Post . The organization has hired Goldman Sachs to sho ...

  20. The Year in Music Stocks: The Good, The Bad, The Overall Decline

    January 01, 2012 4:18 PM EST Music stocks were much like the broader markets in 2011: a mix of good and bad with an overall decline. Billboard's list of ten music-related stocks fell by an average of 4 percent in 2011. The Dow rose 3.2 percent, the S&P 500 dropped 1. ...

  21. Business Matters: Disappointing Best Buy Quarter Part of Technology Retail Slide

    December 13, 2011 6:44 PM EST Tech Retail In The Dumps -- Best Buy shares fell 15.5 percent Tuesday on heaving trading (five times the daily average) after the company released disappointing sales figures for its fiscal third quarter ending Nov.26, 2011. Revenue dropped 2 perc ...

  22. Record Label Shake Ups, Sales Make For A Tumultuous Year In The Music Industry

    December 08, 2011 7:55 AM EST With the sale of Warner Music Group, the planned sale and breakup of EMI Group and the installation of new management at each of the three surviving majors, 2011 was a year of seismic shifts in the major-label landscape. The rumbles began immediat ...

  23. Business Matters: Thanks to Lil Wayne, Digital Albums Outsell Tracks for Only Second Time Ever

    September 07, 2011 6:50 PM EDT Thanks to Lil Wayne, Digital Albums Outsell Tracks for Only Second Time Ever -- With the help of Lil Wayne's "Tha Carter IV," digital albums topped digital track sales for only the second time in the digital era. Put another way, la ...

  24. 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 ...

  25. Berklee and Lollapalooza Partner for Berklee Lollapalooza Endowed Scholarship

    August 05, 2011 2:15 PM EDT Berklee College of Music and Lollapalooza announced the inception of the Berklee Lollapalooza Endowed Scholarship at the festival's 20th anniversary in Chicago today (Aug. 5), according to a press release. The scholarship, endowed by donor-ad ...

  26. Zynga May File for IPO Tomorrow, Source Says

    June 28, 2011 6:18 PM EDT Online social game company Zynga plans to raise $1.5 billion to $2 billion in an initial public offering and could file paperwork with U.S. regulators as soon as Wednesday, a source familiar with the situation said on Tuesday. Zynga, the company b ...

  27. Apollo Global Completes Acquisition of 'American Idol' Owner CKx

    June 23, 2011 7:39 AM EDT An affiliate of private equity firm Apollo Global Management has completed the roughly $510 million acquisition of American Idol owner CKx Inc., the companies said early Wednesday. CKx is the owner of American Idol and So You Think You Can Dance p ...

  28. EMI: Who's Lining up to Buy It?

    June 22, 2011 4:01 PM EDT While EMI announced earlier this week that it is exploring strategic alternatives that will see the company either sold, go public or be recapitalized, the betting is that the major will be put up on the auction block as the first option. Citigrou ...

  29. Facebook Looking at IPO in First Quarter: Report

    June 13, 2011 4:00 PM EDT Facebook is preparing to file for an initial public offering as early as October or November that could value the popular social networking site at more than $100 billion, financial news channel CNBC reported on Monday. Goldman Sachs is leading th ...

  30. 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 ...

  31. Warner Music Bids in With Board, Announcement Expected Friday: Sources

    May 04, 2011 7:20 AM EDT Bids for a likely $3 billion buyout of Warner Music Group are in with the company's board for review over the next couple of days, according to two people familiar with the process. Three parties are known to have put in bids for the world� ...

  32. Sony Freebies Help Soothe Anger at PlayStation Data Breach

    May 02, 2011 8:18 AM EDT Sony Corp has won over some gamers by offering free access to its PlayStation Network to compensate for the leak of personal details on 78 million user accounts, but still has some way to go to regain the trust of consumers. Many PlayStation users ...

  33. Facebook's Growth Exceeds Expectations, $2 Billion in Earnings: Report

    May 02, 2011 7:52 AM EDT Facebook Inc's business is growing faster than forecast several months ago and the firm is on track to top $2 billion in earnings before interest, taxes, depreciation and amortization in 2011, according to a report in The Wall Street Journal. ...

  34. Warner Music $3 Billion Buyout Could be Done this Week: Source

    May 02, 2011 7:13 AM EDT Final buyout bids for Warner Music Group are due on Monday and the company could be sold by the end of the week in a deal valued at over $3 billion, according to a person familiar with the matter. The third round of bids is led by two competing fi ...

  35. Lyor Cohen Talks 360 Deals, High Salaries, The Future of Labels -- But Not Warner Music Auction -- At Rethink Music

    April 27, 2011 4:59 PM EDT BOSTON - Warner Music Group head Lyor Cohen preached the gospel of artist development and loving the business at the Rethink Music conference here, but he wasn't talking about the auction for WMG . In fact, audience members were asked not to ...

  36. 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 ...

  37. Three Suitors Left In Running For Warner Music Group Auction, But Who Are They?

    April 13, 2011 6:56 PM EDT The Warner Music Group (WMG) is heading into a third round in the auction to sell the company, with three suitors still left in the running, sources tell Billboard. As first reported by the Wall Street Journal, the WMG board of directors has decid ...

  38. Bertelsmann on Mergers and Acquisitions Path In 2011

    March 29, 2011 8:01 AM EDT Europe's biggest media group Bertelsmann BERT.UL said it had the financial muscle to look at acquisitions again after reducing its debt, and would look at Warner Music Group (WMG.N) and possibly EMI. Bertelsmann, which launched its biggest-ev ...

  39. Business Matters: U.S. Gov't Lists Worst Piracy Sites/Helpful Piracy Primer

    March 01, 2011 4:38 PM EST Eminem's "Relapse" on Taobao for as low as 8 Yuan or about $1.20 (Photo: Taobao screen shot) U.S. Gov't Lists Worst Piracy Markets/Helpful Piracy Primer -- The Office of the United States Trade Representative (USTR) has weighed ...

  40. Rumored and Reported: The Latest on Major Label Sales, Mergers & Acquisitions

    February 22, 2011 2:23 PM EST Terra Firma's failed investment in EMI has set in motion a series of events that could lead to major changes in the music industry. Numerous and rather speculative media reports are detailing the steps being taken by Warner Music Group, BMG R ...

  41. Is Terra Firma's Investment in EMI The Biggest-Ever Private Equity Loss?

    February 07, 2011 2:36 PM EST Terra Firma's £1.7 billion (US $2.7 billion) loss on its investment in EMI could be a private equity record, according to research by Private Equity News and Dealogic reported in Financial News . The article reads: "Forstmann Little wrot ...

  42. Now That Citigroup Has Taken Over EMI, What's Next?

    February 01, 2011 4:26 PM EST Citigroup's earlier-than-expected takeover of EMI Group and its recapitalization of the company's balance sheet effectively presses the fast-forward button on a resolution of the major label group's fate. The bank had been widely ex ...

  43. Business Matters: The Android Surge: Mobile Is No. 1, Tablets Up Ten-Fold

    February 01, 2011 1:11 PM EST Android Mobile Is No. 1 -- Android overtook Nokia for the top mobile market share in the fourth quarter of 2010, according to Canalys. Google's operating system was used on 33.3 million units shipped in the quarter, up 615% year over year and ...

  44. EMI And Warner Music: Destined To Be Together?

    January 28, 2011 10:05 AM EST No matter what happens to EMI or Warner Music Group (WMG), it always seems that speculation about their respective fates is intertwined with that of the other. That was true during the protracted will-they-or-won't-they merger speculation tha ...

  45. Warner Music and EMI For Sale? It Could Happen, Insiders Say

    January 21, 2011 12:00 AM EST All hell has broken loose in the music business: The Warner Music Group will be shopped while it prepares to buy EMI, should that company come up for sale, according to reports. Sources told The New York Times that the private equity firms that ow ...

  46. Warner Selling Publishing To Buy EMI Without Regulatory Scrutiny, Sources Say

    January 21, 2011 12:00 AM EST A person familiar with the matter says Warner Music Group's search for a buyer of its publishing arm, Warner/Chappell, is partly intended to clear a path for it to buy all of British recording giant EMI. The person wasn't authorized to s ...

  47. Warner Music and EMI For Sale? It Could Happen, Insiders Say

    January 21, 2011 12:00 AM EST All hell has broken loose in the music business: The Warner Music Group will be shopped while it prepares to buy EMI, should that company come up for sale, according to reports. Sources told The New York Times that the private equity firms that ow ...

  48. Warner Music Shares Soar On Sale Reports

    January 21, 2011 12:00 AM EST Shares of Warner Music Group surged nearly 23 percent on Friday on news that the world's No. 3 music company is up for sale. Warner Music has hired Goldman Sachs as an advisor to help with the process, a source familiar with the matter said o ...

  49. Warner Music Shares Soar On Sale Reports

    January 21, 2011 12:00 AM EST Shares of Warner Music Group surged nearly 23 percent on Friday on news that the world's No. 3 music company is up for sale . Warner Music has hired Goldman Sachs as an advisor to help with the process, a source familiar with the matter said ...

  50. Report: Warner Hires Goldman Sachs to Find Buyer (and Seller)

    January 20, 2011 12:00 AM EST Warner Music Group has hired investment bank Goldman Sachs to find a potential buyer for all or part of the company, according to a report by the New York Times' DealBook blog . Warner is said to have been approached in recent months by priva ...

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