Investment

  1. Brown Beefs Up Slicethepie Exec Team

    June 16, 2008 12:00 AM EDT Slicethepie has recruited Pandora Media managing director Paul Brown to drive the U.K.-based Web A&R-platform's business development and commercial partnerships. Brown, who joins the Slicethepie board as commercial director, will combine ...

  2. Handleman Steers Away From Music Biz

    June 02, 2008 12:00 AM EDT Handleman Company is exiting the music business in North America. As part of a radical upheaval of its interests, the company has sold its music inventory and selected other assets related to its Wal-Mart business in the U.S. to Anderson Merchandi ...

  3. Universal France Goes Plastic With Credit Card Initiative

    May 23, 2008 12:00 AM EDT Universal Music and French bank Société Générale will launch on May 26 a co-branded credit card offering users access to numerous music services. The So Music card will be available to customers of Société Générale in France. In addition to the us ...

  4. WMG Losses Widen In Q2

    May 08, 2008 12:00 AM EDT Warner Music Group released second quarter earnings results that show slightly increased revenues but widening losses. Revenues grew 2% to $800 million, with digital revenues up 48% to $164 million, compared to the same quarter last year. Digital ...

  5. Horowitz Joins Primary Wave

    April 28, 2008 12:00 AM EDT Robert Horowitz has joined Primary Wave Music Publishing as COO/head of business development. He was a director at Credit Suisse where he was the architect of Primary Wave's capital structure. Horowitz will oversee the company's business ...

  6. Aussie Promoter Dainty Expands Executive Team

    April 16, 2008 12:00 AM EDT Australian concert and theatrical producer Dainty Consolidated Entertainment (DCE) has signalled plans for growth to come over the next five years with the addition of two executives. Harley Evans takes over as executive director of touring from J ...

  7. Edge Group Defies Downturn

    April 14, 2008 12:00 AM EDT The Edge Group says it has defied the global credit crunch gloom afflicting the investment market by raising £21.5 million ($42.7 million) in the past year. Edge Performance VCT has now doubled the size of its funds under management to £40 million ...

  8. Edge Invests In Dorrell's Hear No Evil

    March 27, 2008 12:00 AM EDT The Edge Group's Performance Venture Capital Trust (VCT) is investing £1 million ($2 million) in a new live promotion company headed by David Dorrell, the veteran music producer and manager. Edge Performance is acquiring a 50% stake in Dorrel ...

  9. WMA, VCs, AT&T Launch Digital Investment Fund

    March 03, 2008 12:00 AM EST The William Morris Agency has teamed up with Silicon Valley venture capitalists Accel Partners and Venrock, as well as AT&T, to create an investment fund designed to back digital media startup companies. The $10 million-plus fund is targeted a ...

  10. Zubillaga Splits With WMG

    February 25, 2008 12:00 AM EST Warner Music Group executive VP, digital strategy and business development Alejandro (Alex) Zubillaga, will leave the company June 1 to "pursue entrepreneurial activities in media and other businesses," the music giant said today. His re ...

  11. Summers Fronts Music Investment Vehicle

    February 06, 2008 12:00 AM EST Jazz Summers, chairman of the Music Managers Forum, is teaming with venture capital and advisory firm Power Amp Music to launch a tax-efficient investment vehicle with a view to developing U.K. artists. Summers and Tim Parry, co-founders of Big Li ...

  12. Balderton Capital Invests In Kobalt

    February 05, 2008 12:00 AM EST European venture firm Balderton Capital has invested $16 million in Kobalt Music Group. As part of the deal, the firm now holds a minority stake in the publishing company, and Balderton Capital partner Tim Bunting joins the Kobalt executive board. ...

  13. Change 'Not Without Pain,' Says EMI’s Hands

    January 15, 2008 12:00 AM EST More details have emerged about the planned restructuring at EMI Group, with chairman Guy Hands urging employees, artists and managers to embrace consumers' needs in the era of digital music. The restructuring follows a three month consultati ...

  14. Announcement Due On EMI Cuts

    January 14, 2008 12:00 AM EST EMI today declined to comment on reports that 2,000 jobs -- one-third of its total workforce -- are to be cut as part of its ongoing restructuring. Billboard has learned, however, that an announcement will be made to staff by EMI Group chairman Gu ...

  15. Trans World Receives Buyout Offer

    November 29, 2007 12:00 AM EST Sherwood Investment Overseas Ltd. has proposed paying $7 per share, or $217 million, to buyout Trans World Entertainment, the Zurich-based financial firm says. The company, which says it holds 1.5 million Trans World shares, says it is in the proc ...

  16. VC Dollars Grow In Entertainment Space

    November 28, 2007 12:00 AM EST Where there are people on the Internet, chances are there will soon be money. Social networking and user-generated content sites, online advertising optimizers, casual video games, and virtual worlds are not only attracting growing numbers of cons ...

  17. Terra Firma Conducting EMI Strategic Review

    October 30, 2007 12:00 AM EDT Private equity group Terra Firma, months after buying music company EMI, has launched a strategic review of the company but plans to keep it intact, a spokesman said on Monday. The spokesman, however, declined to give any further details about the ...

  18. First State Media Acquires Wind-up Publishing

    October 16, 2007 12:00 AM EDT First State Media Group has acquired the music publishing subsidiaries of Wind-up Entertainment. The deal covers the existing Wind-up publishing assets, which include rights in songs by Evanescence and Creed. It does not include future Wind-up sig ...

  19. 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 ...

  20. 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 ...

  21. Nicoli: EMI's Terra Firma Future Bright

    August 29, 2007 12:00 AM EDT EMI's outgoing chief Eric Nicoli has assured employees that the business is in safe hands with its new owner, the Terra Firma equity house. In an internal letter issued to EMI's artists, writers and staff, Nicoli presented a promising fu ...

  22. EMI To Cancel LSE Listing On Sept. 18

    August 17, 2007 12:00 AM EDT EMI Group plc expects to de-list from the London Stock Exchange on Sept. 18 as it prepares for a new era under the ownership of equity house Terra Firma, the British music major reports. In a statement issued to the London Stock Exchange, EMI said ...

  23. Terra Firma Reject Nicoli Sack Claims

    August 15, 2007 12:00 AM EDT European equity house Terra Firma is playing-down speculation that EMI Group CEO Eric Nicoli is on the verge of being jettisoned. Sources close to the music major claim Terra Firma has appointed a headhunter to find a replacement for Nicoli, a mov ...

  24. Ingenious, Rival Organisation Team For U.K. Concerts

    August 03, 2007 12:00 AM EDT Venture capital firm Ingenious is to invest in and co-promote a series of U.K. open-air concerts at stately British estates from 2008 through an agreement with The Rival Organisation. The deal is Ingenious Live Venture Capitalist Trusts' thir ...

  25. Terra Firma Reaches EMI Shareholder Goal

    August 01, 2007 12:00 AM EDT Terra Firma has cleared one of the final hurdles in its proposal to buy out EMI Group plc. Just after the final deadline closed on the acquisition process this afternoon, the private equity firm announced to the London Stock Exchange that it had s ...

  26. HMV Sells Japanese Biz

    July 31, 2007 12:00 AM EDT Music and entertainment retail giant HMV Group has agreed to sell its 62-store HMV Japan business to DSM Investments catorce Co. Ltd for ¥17 billion (£70 million) in cash. The deal is expected to be completed by the end of August, HMV said today. ...

  27. 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 ...

  28. 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 ...

  29. UMGD Names Three To Digital Team

    July 09, 2007 12:00 AM EDT Universal Music Group Distribution has named three new executives to its digital team. Adam Flick was named VP of marketing/digital, Laura Saez as VP of sales/digital and Gabriel Levy as VP of product development. Flick was formerly VP of marketin ...

  30. 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 ...

  31. 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 ...

  32. 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 ...

  33. WMG, AnywhereCD Settle Dispute

    June 07, 2007 12:00 AM EDT Warner Music Group and AnywhereCD have dismissed their respective lawsuits against each other and agreed to an early end to their relationship. Under the agreement, WMG will allow AnywhereCD to continue sell its music via the service -- which lets ...

  34. 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 ...

  35. EMI Backs Terra Firma Bid

    May 21, 2007 12:00 AM EDT EMI Group has recommended its investors accept a cash offer for the company from European private equity firm Terra Firma, for 265 pence per share. The sum, offered through Maltby, a newly-incorporated company formed by Terra Firma, values the mus ...

  36. 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 ...

  37. 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 ...

  38. 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 ...

  39. 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 ...

  40. EMI Concerns Grow At Warner Music

    April 11, 2007 12:00 AM EDT Declining profits and growth at EMI Group are becoming "increasingly problematic," said a large shareholder of Warner Music Group, which is pursuing a bid to buy EMI. "We want to be very realistic about what we would be buying and w ...

  41. FCC Approves Univision Sale

    March 27, 2007 12:00 AM EDT As expected, the FCC has approved the acquisition of Univision Communications by investor group Broadcasting Media Partners (BMP). The sale was set at approximately $12.3 billion or $36.25 per share. Once the acquisition is finalized, which is exp ...

  42. WMG Promotes Mazo

    March 20, 2007 12:00 AM EDT Warner Music Group has promoted Susan Mazo to VP of corporate communications. Mazo, who was previously a senior director in the department, is based in New York and will continue to report to WMG's senior VP of corporate communications, Will ...

  43. Ingenious Backs U.K. Fest

    March 06, 2007 12:00 AM EST London-based media investment and advisory group Ingenious is backing its first live music event. The two music venture capital trusts (VCTs) of Ingenious will jointly-invest in the Knowsley Hall Music Festival this summer, a new Liverpool, Englan ...

  44. 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 ...

  45. Univision Names New CEO

    February 27, 2007 12:00 AM EST The private investor group that acquired Univision Communications Inc. has named Joe Uva, president and CEO of OMD Worldwide, to succeed the Spanish broadcaster's CEO when the acquisition closes, a person familiar with the matter said Tuesday ...

  46. Ingenious Injects Investment Into The Prodigy

    February 14, 2007 12:00 AM EST The two music venture capital trusts (VCTs) of London-based Ingenious have made a joint investment of £2 million ($3.8 million) to support the release of The Prodigy's fifth album. The investment has been made through the formation of a joint ...

  47. Live Nation Reorganizes, Eskowitz Promoted

    January 24, 2007 12:00 AM EST Live Nation has consolidated its North American Music operations under the leadership of Bruce Eskowitz, who has been promoted to the newly created position of CEO, North American Music. The reorganization, which comes in the wake of the departure ...

  48. 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 ...

  49. 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 ...

  50. 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 ...

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