Investment

  1. Mid-Year Investments Wrap: Download, Streaming Services Lead the Way

    July 14, 2010 12:00 AM EDT There wasn't exactly a windfall of investments flowing to music-related startups in the first half of 2010, but they are still attracting investors' interest. There were 30 investment deals in the first half of 2010, according to Billboa ...

  2. Business Matters: Roger Faxon, EMI, VC Funding, Price Wars and more

    June 22, 2010 12:00 AM EDT EMI'S DEDICATION TO A&R -- After Roger Faxon was named head of EMI Music , some people in the business press were under the impression that EMI would become either more committed to publishing or less committed to new artist development. ...

  3. JPMorgan Shopping Bug Music

    June 02, 2010 12:00 AM EDT Bug Music, which has about $26 million in net publisher's share, is being shopped through an auction process, according to sources. The company's proposed sale, first reported in this morning's New York Post , has already been throu ...

  4. Report: Terra Firma In Talks to Sell Stake in EMI Music Publishing

    May 27, 2010 12:00 AM EDT On Thursday the New York Post reported that Terra Firma is in talks to sell a stake in EMI Music Publishing. One participant in those talks is Kohlberg Kravis Roberts, which would buy a minority stake in EMI’s publishing division and combine the o ...

  5. EMI Notes: Pension Controversy Back, Questions About Citi's Intentions

    May 17, 2010 12:00 AM EDT -- EMI 's pension fund has been a cloud hanging over Terra Firma since the private equity firm acquired the music company. Now, Britain's pension regular is calling on Terra Firma to fill a £250 million gap in funding . Extra payments in ...

  6. EMI Confirms Terra Firma Equity Cure

    May 14, 2010 12:00 AM EDT EMI has confirmed that it will receive "additional sums" from Terra Firma and its investors - thought to be £105 million ($153 million) - that will avoid a breach of the major's loan covenant with Citigroup. Maltby Capital, the inve ...

  7. Business Matters: Obama, EMI, WMG, Alison Krauss and More

    May 12, 2010 12:00 AM EDT -- Two posts worth reading: The Hollywood Reporter's "Why Hollywood Should Be Very Nervous About Elena Kagan," a post about President Obama's nomination for the Supreme Court, and a follow-up by music attorney Chris Castle . &q ...

  8. Report: Terra Firma Secures EMI Funds

    May 11, 2010 12:00 AM EDT EMI Group owner Terra Firma Capital Partners has reportedly secured investors' approval to raise £105 million ($156 million), to avoid a breach of the major's loan covenant with Citigroup. Terra Firma needed the support of 75% of its inv ...

  9. Murdoch Admits To MySpace 'Mistakes'

    May 06, 2010 12:00 AM EDT News Corp. chairman and CEO Rupert Murdoch has admitted to "mistakes" with MySpace, after the division which houses the social network posted a loss of $150 million. News Corp. earned $839 million in the fiscal third quarter, which ended ...

  10. Business Matters: New York Times, MXP4, News Corp., Martina McBride and More

    April 22, 2010 12:00 AM EDT -- The New York Times Co., owners of The New York Times and Boston Globe , posted a profit in Q1 2010. The company posted a profit of $12.8 million on revenue of $588 million. National advertising improved. Online revenues grew 15.5% to $90.4 mill ...

  11. Terra Firma To Ask EMI Investors For Much More

    April 20, 2010 12:00 AM EDT Guy Hands' Terra Firma Capital Partners plans to ask investors to put a further £360 million ($555 million) into EMI - three times the amount Terra Firma previously indicated would be needed to make up shortfalls against the loan covenants. A ...

  12. New Digital Media VC Fund Shows Hope Springs Eternal

    April 16, 2010 12:00 AM EDT Despite the tough conditions for digital media, entrepreneurs and investors continue to pour money into new ideas. On Wednesday, Greycroft Partners announced it will launch its second digital media fund. Greycroft’s first fund was launched in 2006 ...

  13. Entertainment Stocks Jump

    April 07, 2010 12:00 AM EDT Positive employment data released on Friday by the Labor Department helped boost entertainment stocks this week. The Labor Dept. said U.S. employers added 162,000 jobs in March - the biggest gain since December 2007 - and that the unemployment rat ...

  14. Chrysalis PLC Acquires First State Media Group Business

    April 01, 2010 12:00 AM EDT Chrysalis PLC has acquired the First State Media Group business, which operates under the brands of S2 Songs and State One Music in seven countries and controls a catalog with over 45,000 music copyrights. Those copyrights include Sheryl Crow' ...

  15. Report: EMI In Licensing Talks To Raise $601 Million

    March 22, 2010 12:00 AM EDT EMI is in talks to allow rival labels to manage its back catalog in order to raise funds and prevent a takeover from its lender, reported the Sunday Times. EMI, owned by Guy Hands' private equity group Terra Firma, is trying to put in place a ...

  16. Business Matters: WMG, EMI, Rhapsody, Sonos and more

    March 15, 2010 12:00 AM EDT - Over the weekend, The Telegraph reported that private equity firm KKR is in talks with Warner Music Group to break up EMI . KKR, which last year created a music publishing joint venture with Bertelsmann, is said to desire EMI’s music publishing ...

  17. KKR, Warner Music Eye Break-up Bid For EMI: Report

    March 15, 2010 12:00 AM EDT Private equity firm KKR and Warner Music Group are in talks to launch a break-up bid for Warner's indebted British rival EMI, reported the Sunday Times. The paper said KKR is interested in acquiring the music publishing arm of EMI, which it s ...

  18. Ruling By End March In EMI Deal Dispute

    March 05, 2010 12:00 AM EST A U.S. judge said he would rule by the end of March on whether or not to grant a request by Citigroup Inc to move a lawsuit by Terra Firma Capital Partners Ltd to London in a dispute over the buyout house's acquisition of EMI. Terra Firma cha ...

  19. Report: EMI Brings In Director

    February 26, 2010 12:00 AM EST EMI has appointed Peter Williams to the board of one of its holding companies, as its buyout house Terra Firma tries to sort out the loss-making record label's finances, the Daily Telegraph reported on Friday (Feb. 26). Williams, a former bos ...

  20. Owner Proposed Breaking Up EMI Group

    February 15, 2010 12:00 AM EST Terra Firma Capital Partners Ltd chairman and chief executive Guy Hands proposed three months ago to break up music company EMI Group Ltd, court documents filed in New York show. Hands made the proposal in a letter to Chad Leat, head of the altern ...

  21. NYC Pensions Helped Finance Terra Firma's EMI Deal

    February 12, 2010 12:00 AM EST While much attention is set firmly on whether or not Terra Firma's ownership of EMI will be torpedoed by the 2.7 billion pounds ($4.23 billion) it borrowed from Citigroup, the investment firm is not the only institution with funds at risk in ...

  22. Business Matters: EMI, Citi, Suzanne Vega, Tunewiki and More

    February 08, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. Follow Billboard senior analyst Glenn Peoples on Twitter at twitter.com/billboardglenn . -- The behind-the-scenes dealmaking involved in the EMI a ...

  23. EMI Posts Full-Year $2.48 Billion Net Loss

    February 04, 2010 12:00 AM EST EMI Group, at the centre of an acrimonious legal dispute between buyout house Terra Firma and Citigroup (C.N), posted a full-year 1.56 billion pound ($2.48 billion) net loss and said it needed more money to stay afloat. The deal by Guy Hands' ...

  24. Guy Hands Orders New EMI Strategic Plan, Huge Loss Expected

    February 04, 2010 12:00 AM EST Guy Hands has asked EMI Music chief executive Elio Leoni-Sceti to draw up a new plan for the recorded music company, in order to persuade Terra Firma investors to inject a reported £100 million ($158.5 million) of additional investment. The Financ ...

  25. @MIDEM: Impala Unveils Financial Action Plan For Biz

    January 26, 2010 12:00 AM EST Brussels-based pan-European independent labels body Impala has launched a radical 10-point financial action plan for the music industry. "This is a call for action to national governments, the EC and the music industry," Helen Smith, exe ...

  26. WMG Got $9 Million in Lala Deal

    January 11, 2010 12:00 AM EST Financial details of Apple's acquisition of Lala, Lala's annual revenue and insight into bonuses paid were revealed thanks to a proxy statement filed today by Warner Music Group. The proxy statement offers a few clues on Lala's acqu ...

  27. Business Matters: EMI, Citigroup, VC Funding, Stock Wrap and More

    January 11, 2010 12:00 AM EST Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- EMI passed the year-end test required by Citigroup , the bank behind Terra Firma's acquisition of the music company, according to a report ...

  28. Citigroup Says Not Seeking Buyers For EMI

    December 22, 2009 12:00 AM EST Citigroup said it was not seeking buyers for EMI, whose owners Terra Firma are suing the U.S. bank for billions of dollars in damages relating to its 2007 buyout. The statement came after the Observer newspaper reported on Sunday (Dec. 20) that Ci ...

  29. Report: Citigroup Moved For EMI

    December 18, 2009 12:00 AM EST According to the Financial Times, Citigroup tried to take control of EMI before Terra Firma launched a legal action against the bank. The paper reports that in September Citigroup proposed a debt-for-equity swap that would have given the bank a ma ...

  30. Terra Firma Seeks Investors In EMI: Report

    December 14, 2009 12:00 AM EST British private equity group Terra Firma wants to bring in outside investors to help prop up EMI, which is struggling with £2.6 billion ($4.2 billion) of debt, the Observer newspaper reported. The report said pension funds, insurance companies and ...

  31. Citigroup Sued By Terra Firma Over EMI Deal

    December 14, 2009 12:00 AM EST Private equity firm Terra Firma sued Citigroup Inc, accusing the bank of fraud in connection with Terra Firma's purchase of music business EMI Group in 2007, court documents filed in New York showed. Terra Firma accuses Citigroup of driving u ...

  32. Terra Firma Expects Citigroup To Share EMI 'Pain'

    November 19, 2009 12:00 AM EST Private equity firm Terra Firma expects Citigroup to share in the pain of restructuring music business EMI, according to Guy Hands, the buyout firm's founder and chairman. Citigroup, which holds EMI's debt of about £2.6 billion ($4.3 bil ...

  33. Citi Rejects Terra Firma's Latest Bid To Save EMI: Report

    November 16, 2009 12:00 AM EST Citigroup Inc recently rejected a proposal from Guy Hands' private equity firm Terra Firma Capital Partners to restructure the debt of music group EMI, the Wall Street Journal said on Monday. The buyout firm had offered to inject about £1 bil ...

  34. Billboard Q&A: iFund Manager Matt Murphy

    October 30, 2009 12:00 AM EDT Several months before Apple opened its App Store in July 2008, the venerable Bay Area venture capital firm Kleiner Perkins Caufield & Byers launched the iFund, a $100 million investment vehicle focused on backing companies developing applicati ...

  35. Twitter Gets New Round Of Funding, New Backers

    September 28, 2009 12:00 AM EDT Twitter has received $100 million in funding, valuing the company at $1 billion, according to a person familiar with the matter, as investors bet that the Web company's explosive growth will yield actual revenue or a lucrative deal. Investors ...

  36. Business Matters: EMI, The Pirate Bay, UMG

    September 21, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- According to a report at Financial News, EMI 's performance has improved to the point it will not require a capital infusion from lenders ...

  37. EU clears Bertelsmann, KKR music rights JV

    September 09, 2009 12:00 AM EDT German media group Bertelsmann gained European Union regulatory approval on Wednesday for a joint music rights venture with private equity firm Kohlberg Kravis Roberts & Co. Bertelsmann, which will own 49% of the joint venture, will contribute ...

  38. Business Matters: Guy Hands, EMI, Sony Music, Rhapsody

    August 17, 2009 12:00 AM EDT Business Matters is a daily column that offers insight, analysis and opinion on the day's news. -- The Wall Street Journal’s Aaron O. Patrick wrote a very thorough overview of Terra Firma 's struggles with EMI . Notably, the private equi ...

  39. Report: B2B Fueled 4.7% U.K. Growth In 2008

    July 20, 2009 12:00 AM EDT The U.K. pie grew in 2008 but an increasingly fractured music industry means more pie slices and a greater disparity between top earners and everybody else. According to a new paper by PRS for Music, "Adding Up The Music Industry for 2008,&qu ...

  40. Briefs: Live Nation-Ticketmaster, Anti-Piracy In Sweden

    July 14, 2009 12:00 AM EDT -- The UK Competition Commission, an independent public body that investigates mergers and regulated industries, announced yesterday it is looking into the Live Nation-Ticketmaster merger. “If the inquiry group considers that the merger may be exp ...

  41. Business Briefs: Terra Firma, Lucien Grainge, P2P, UMG

    April 20, 2009 12:00 AM EDT -- The Guardian questioned Terra Firma's financing of its deal with EMI, which came years after Guy Hands demonized debt securitization. The last of Terra Firma's blockbuster deals was its acquisition of EMI. Citigroup provided £2.6 bill ...

  42. AEG Prepared To Self-Insure Jackson Shows

    March 16, 2009 12:00 AM EDT AEG chief executive Randy Phillips has reportedly confirmed that the company would be prepared to self-insure Michael Jackson in the event of a shortfall in insurance coverage for all the singer's concerts. "We would be prepared to self- ...

  43. Terra Firma Writes Off EMI Investment

    March 03, 2009 12:00 AM EST Terra Firma, the private equity firm which owns EMI, has written off €1.365 billion ($1.718 billion) in its investments. The lion's share of that impairment charge is reportedly down to EMI, which it acquired in August 2007 for £2.4 billion ( ...

  44. 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 ...

  45. 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 ...

  46. SBS Gets Another Shot With NASDAQ

    October 31, 2008 12:00 AM EDT Citing "extraordinary market conditions," Spanish Broadcasting System announced that NASDAQ won't be delisting SBS from its exchange for the time being. SBS, along with other companies, had been warned they would be taken off the NA ...

  47. U.K. Underage Fest Set To Go International

    October 22, 2008 12:00 AM EDT The Underage Festival, staged in London's Victoria Park in August for 14 to 18-year-olds only, is set to expand with an international presence. Investment firm Ingenious Media co-promoted the one-day Underage Festival and the Field Day festiv ...

  48. Getty Images Rolls Out Online Music Licensing Service

    October 06, 2008 12:00 AM EDT Getty Images, a leading distributor/clearing house of film footage, stock photo images and other digital media, is launching Premium Playlist, a one-stop online service for film makers, advertising agencies and others looking to license music. Pre ...

  49. E1 Obtains $150M Revolving Credit Facility

    September 26, 2008 12:00 AM EDT Amidst the highly publicized credit crunch, Entertainment One has obtained a four-year, $150 million revolving credit facility from a consortium of banks led by JP Morgan. Participating banks also include Bank of America, Barclays and Toronto Domi ...

  50. SBS On Notice By NASDAQ

    August 28, 2008 12:00 AM EDT Hispanic media company Spanish Broadcasting System (SBS) received a written deficiency notice from the NASDAQ Stock Market, where SBS trades, stating it was not in compliance with NASDAQ's minimum bid price. SBS stock has traded at below $1.0 ...

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