Investment

  1. Clear Channel, Warner Music Announce Strategic Music Partnership

    September 12, 2013 11:14 AM EDT Clear Channel and the Warner Music Group today announced a strategic partnership intended to align the two companies’ interests in driving digital growth, increasing radio listenership, breaking new music and creating new marketing opportunities ...

  2. Jason Flom, John Rudolph to Bid for Universal's EMI Assets: Source

    November 15, 2012 4:15 PM EST Billboard has learned that former Bug Music CEO John Rudolph and Lava Records founder Jason Flom have partnered to throw their hat in the bidding ring for the EMI assets that Universal Music Group must sell as part of the terms of their acquisitio ...

  3. Business Matters: As Spotify Adds Ireland and Luxembourg, What To Expect in Emerging Markets

    November 13, 2012 7:44 PM EST Spotify has quietly launched in Ireland and Luxembourg, the company's 16th and 17th countries, giving it markets roughly the size of the state of Louisiana plus the city limits of Tucson, Arizona. What exists beyond these small markets will b ...

  4. Publishing Briefs: Kobalt to Invest $100 Million in Advances, Copyrights

    October 09, 2012 7:47 PM EDT Kobalt to Invest $100 Million in Advances, Copyrights The Kobalt Music Group, via funds raised by Kobalt Capital Ltd, plans to invest $100 million over the next 12 months in paying advances and buying copyrights. Through its subsidiary Kobalt Capi ...

  5. Former EMI Owner Terra Firma Seeks Appeal in Lawsuit Against Citigroup

    October 05, 2012 3:09 PM EDT Terra Firma Capital Partners LP has asked a U.S. appeals court for a new trial over its claims that it was deceived by Citigroup Inc. while bidding for EMI Music, according to numerous reports . The case originally went to trial in October 2010. A ...

  6. Business Matters: Pandora Seen Building Up Local Ad Sales Teams

    August 13, 2012 12:27 PM EDT The good news is somebody on Wall Street thinks Pandora is building its local ad sales team to generate more revenue. The bad news is somebody on Wall Street thinks the costs of building out its local ad sales teams will hurt Pandora's profit ...

  7. Universal Music to Submit Divestment Package Within 24 Hours; May Offer to Sell Virgin, EMI Classics in Certain Territories

    July 16, 2012 2:17 PM EDT Within the next 24 hours, the Universal Music Group will submit a package of assets it expects to sell beyond the publishing assets (including the Koch and Brentwood Benson Christian catalogs) already announced earlier this year. According to mult ...

  8. Dick Clark Productions Considering Sale (Report)

    June 14, 2012 6:30 AM EDT The owner of Dick Clark Productions, the producer of the Golden Globe awards show, started evaluating a sale of the firm after receiving an expression of interest from an unnamed Chinese media firm, the New York Times reported. As reported, Dick C ...

  9. Business Matters: Bono Will Make Maybe $10 Million, Not $1.5 Billion, From Facebook's IPO

    May 18, 2012 3:26 PM EDT Bono Will Make Millions -- But Not Billions -- Off Facebook's IPO Bono is rich but not as rich as you have been led to believe in the last few days. A report at NME.com , which was picked up by Spinner, Huffington Post and the New York Post ( ...

  10. 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 ...

  11. 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 ...

  12. IFPI 2012 Report: Global Music Revenue Down 3%; Sync, PRO, Digital Income Up

    March 26, 2012 9:28 AM EDT Trade revenue generated by the global recorded music industry in 2011 dropped by 3% to $16.6 billion, according to the International Federation of the Phonographic Industry's (IFPI) annual "Recording Industry in Numbers" report, pub ...

  13. How To Get Your Music & Tech Startup Funded Panel @ SXSW

    March 14, 2012 1:19 PM EDT SXSW's "Getting Your Music/Tech Startup Funded" panel brought together a spectrum of financial backers, from the bottom level to the very high end. Moderated by the San Jose Mercury News' Peter Delevett, the panel was populated ...

  14. 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 ...

  15. 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 ...

  16. Exclusive: AGI Acquired By Yucaipa

    January 05, 2012 5:00 AM EST Artist Group International (AGI), the leading independent music booking agency whose clients include Billy Joel, Metallica, Rod Stewart, Linkin Park, Rush, Def Leppard, Rammstein, Motley Crue, Volbeat and Hollywood Undead, has been acquired by the ...

  17. It's Official: Sony-Led Group Purchases EMI Music Publishing for $2.2 Billion

    November 11, 2011 6:38 PM EST It's official: An investment group led by Sony Corp. has signed a definitive purchase agreement to acquire EMI Music Publishing for $2.2 billion from Citigroup. In addition to Sony Corp. of America, the investment group is comprised of the es ...

  18. EMI Split Sale Approaches, But Complications Persist

    November 10, 2011 7:14 PM EST Press reports in the Guardian and the Wall Street Journal may suggest that Citigroup is close to completing two separate deals to sell EMI, but sources say that both negotiations still have complications to overcome. Citigroup is seeking $1.7 mill ...

  19. Groupon Raises $700 Million With IPO at $20 Per Share

    November 04, 2011 8:11 AM EDT SAN FRANCISCO (AP) - Daily deals pioneer Groupon raised about $700 million with an initial public offering of stock priced well above expectations. The IPO was set late Thursday at $20 per share, above the anticipated range of $16 to $18. The high ...

  20. EMI: Access/Warner Pulls Out of Auction

    October 30, 2011 9:28 PM EDT In an apparent game of brinkmanship, Len Blavatnik's Access Industries has pulled out of the auction for EMI's recorded music operation, sources confirmed to Billboard.biz, even though the company was said to be the front-runner in the b ...

  21. Berlin Promoter Deutsche Entertainment AG Expanding To Switzerland With Starclick

    October 28, 2011 2:32 PM EDT BERLIN - The German concert promoter Deutsche Entertainment AG (DEAG) in Berlin has joined forces with the Swiss media company Ringier AG to form the concert agency Starclick Entertainment AG, in Zurich The new company will work independently in S ...

  22. Amazon's Third-Quarter Profit Down 73%, Stocks Drop

    October 25, 2011 4:37 PM EDT Amazon says its third-quarter net income sank 73 percent despite sales growth as the online retailer spent money to grow its business. The company's earnings fell short of analyst expectations and its stock fell nearly 20 percent in after-hou ...

  23. Business Matters: Shrinking IPO Market Hurt Venture Capital in Q3

    October 11, 2011 8:15 PM EDT Shrinking IPO Market Hurt Venture Capital in Q3 -- Venture capital fundraising fell to an eight-year low in the third quarter, according to the National Venture Capital Association (NVCA). Firms raised $1.7 billion in the quarter, down sharply fro ...

  24. Guy Hands Launches New Lawsuit Against Citigroup Over EMI

    September 08, 2011 2:05 PM EDT Terra Firma chairman Guy Hands has instigated legal proceedings against Citigroup over the way it acquired EMI, according to reports. U.K. newspaper The Guardian claims Hands has applied to the high court requesting information about the condition ...

  25. Tim Chang Leaving Norwest for Mayfield

    September 06, 2011 4:23 PM EDT Tim Chang, partner at Norwest Venture Partners, is leaving to join venture capital group Mayfield Fund. His new role will be that of managing director, according to Fortune . Chang focuses on gaming, digital media, social media and mobile. He' ...

  26. Business Matters: What the Stock Market Declines Mean to Music Companies

    August 02, 2011 6:42 PM EDT What the Stock Market Declines Mean to Music Companies -- Concerns about the U.S. debt and hints that the U.S. economy has entered a double-dip recession are dragging down stock markets and impacting music and entertainment companies. New consumer ...

  27. EMI: Who's Bidding? Nearly Everyone Who Bid for Warner Music Group

    July 28, 2011 6:00 PM EDT With the deadline for first-round bids in the EMI auction looming this weekend, sources say that many of the suitors who bid on Warner Music Group have also bid on the British major. While nearly a dozen suitors made bids for WMG, in an auction wo ...

  28. Warner Music Group Plans Modest Restructuring Under Access Ownership

    July 25, 2011 9:00 AM EDT Now officially under new ownership , the Warner Music Group plans to achieve cost savings between $50-65 million over the next 27 months. The company plans to achieve those saving through "certain planned corporate restructuring initiatives,& ...

  29. EMI Gears Up for 'Possible Sale' -- Read CEO Roger Faxon's Memo to Staff

    June 20, 2011 3:23 PM EDT EMI issued a statement on Monday saying that it has launched an effort to find a new owner, among other "strategic alternatives." The company's board "has initiated a process to explore and evaluate potential strategic alternat ...

  30. Pandora Ends First Day of Public Trading Up Just 9%, But Worth More Than Live Nation, Warner Music Group

    June 15, 2011 5:38 PM EDT For a brief moment on the opening day of trading of Pandora's stock, the company had a market value of $4.2 billion - over three times that of Warner Music Group's current $1.28 billion market value. But after the company's shares r ...

  31. SoundCloud Receives Investment from Ashton Kutcher's A-Grade Fund, Passes 5 Million Users

    June 15, 2011 3:01 PM EDT Sound-sharing site SoundCloud has received an undisclosed amount from A-Grade Fund, the venture capital fund led by actor Ashton Kutcher, artist manager/entrepreneur Guy Oseary and billionaire investor Ron Burkle. At the same time, the company ann ...

  32. Music Companies: History Shows That a Successful IPO Does Not Guarantee a Good Investment

    June 15, 2011 12:12 PM EDT Today's IPO of Internet radio company Pandora is sure to put even more of a spotlight on digital music. The company raised its IPO price to $16 - it was originally slated to go between $9 and $11 - and it added another 1 million shares to the ...

  33. Access Reveals Its Warner Music Acquisition Financing Plan in Proxy Statement

    May 23, 2011 4:57 PM EDT Access Industries plans to finance its planned $3.3 billion acquisition of the Warner Music Group by putting up $1.118 billion in equity, obtaining $1.045 billion in bridge loans from Credit Suisse AG and UBS Loan Finance. It will ask the senior s ...

  34. Warner Music Group Passed Up Higher 'Conditional Bid' to Go With Blavatnik's Access Industries

    May 20, 2011 9:06 PM EDT Showing beyond doubt that investor interest in the music industry remains strong, the Warner Music Group auction brought out 17 interested parties before 10 wound up submitting bids , according to a proxy statement filed with the SEC today. In the ...

  35. LinkedIn Raises IPO Ante Amid High Investor Demand; Valued at Over $4 Billion

    May 18, 2011 7:36 AM EDT SAN FRANCISCO - Investors are clamoring to connect with the online networking service LinkedIn Corp. in the latest sign of the fervor for Internet companies that specialize in bringing together people with common interests. The demand to buy a pie ...

  36. What Can We Expect From a Blavatnik-Owned Warner Music Group?

    May 06, 2011 11:39 AM EDT Warner Music Group may have a new owner in the form of Len Blavatnik's Access Industries , but broadly speaking, insiders feel we can expect more of the same from the company. That's because his close relationship with WMG chairman and C ...

  37. It's Official: Access Industries to Acquire Warner Music Group for $3.3 Billion

    May 06, 2011 9:49 AM EDT Access Industries' winning bid for Warner Music Group will pay $8.25 per share in an all-cash deal, according to a joint press release issued Friday morning. The deal is for both Warner's recorded music and publishing divisions. Shares o ...

  38. Warner Shares Reach 52-Week High as Acquisition Nears

    May 05, 2011 2:40 PM EDT Shares of Warner Music Group reached a 52-week high on Thursday upon news that Access Industries is nearing a deal to acquire the company. At midday trading on Thursday, shares stood at $7.83. Shares reached their 52-week high of $8.15 earlier in ...

  39. Len Blavatnik's Access Industries Reportedly Close To Purchasing Warner Music Group

    May 05, 2011 7:43 AM EDT Reports emerged over night that Access Industries led by investor Len Blavatnik is close to buying the Warner Music Group for more than $3 billion dollars. The Warner Music Group board has been meeting this week to consider bids from groups that i ...

  40. 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� ...

  41. Warner Music Group Auction In Final Stretch; One New Bidder Since Last Week

    May 03, 2011 7:33 PM EDT As the Warner Music Group (WMG) auction comes into the final stretch, there appears to be three bidders still in the running -- but only two of them are the same as last week. Ron Burkle's Yucaipa Companies dropped out of the bidding, Bloombe ...

  42. 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 ...

  43. Who the Heck Wants to Invest in Music These Days? Lots of People

    April 25, 2011 2:53 PM EDT If you have read newspapers and blogs in the last few years, you know there's no money to be made in music. So why are billions being invested in music companies? Is there really that much dumb money going into the wrong industry instead of f ...

  44. 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 ...

  45. Business Matters: Music-Related Startups Raise $123 Million In First Quarter

    April 12, 2011 8:50 PM EDT Music-Related Startups Raise $123 Million In First Quarter -- The money started pouring back into digital music last quarter. Ten music and music-related startups raised $124.3 million in venture capital in the first quarter of 2011. Billboard tra ...

  46. Alan Tuchman, Alliance Entertainment CEO, Resigns

    April 12, 2011 3:00 PM EDT Alan Tuchman, who led Alliance Entertainment since 2003, has resigned from the CEO position and will leave the company at the end of the month. Platinum Equity and the Gores Group last September acquired the music and video wholesaler, which has a ...

  47. EMI To Be Sold By Citi As One Unit

    April 12, 2011 7:18 AM EDT Citigroup (C.N), which got control of the world's fourth-largest record company EMI from British financier Guy Hands in February, plans to sell the company as a whole, the New York Post reported, citing sources. EMI Chief Executive Roger Faxo ...

  48. Warner Board to Review Bids This Week

    April 11, 2011 7:34 AM EDT Warner Music Group's board is expected to review second-round bids for the company at a meeting in the coming week, a source familiar with the matter said. Up to 10 investors have put in bids ahead of the meeting, offering a range of valuatio ...

  49. Oaktree, Primary Wave Reportedly Submit Bid For Warner Music Publishing

    April 09, 2011 1:55 PM EDT As bidding for Warner Music Group draws to a close , Oaktree Capital Management and publishing company Primary Wave have submitted a joint bid for Warner Music's publishing arm valued at around $1.5 billion, the New York Post reported late Fr ...

  50. Warner Music Bids Due Today, New Contender Emerges

    April 07, 2011 5:14 PM EDT Bids are due today for the Warner Music Group in the auction being run by Goldman Sachs Group Inc. and AGM Partners LLC. According to CNBC , Ron Burkle's Yucaipa Companies reportedly leads the bidding with $3 billion, topping a reported $2.8 ...

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