Private equity

  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. BMG Beats Warner/Chappell to 'New Wave'-Heavy EMI Publishing Divestitures for $90 Million

    December 20, 2012 5:46 PM EST BMG successfully outbid Warner/Chappell to win control of nearly 30,000 songs divested by EMI, including popular UK '80s hits from acts like Tears for Fears and Culture Club. The catalogs -- which were sold for around $90 million, according t ...

  3. Concord Music Being Shopped to Private-Equity Firms, Not Strategic Suitors

    December 05, 2012 8:27 PM EST Reports that the Concord Music Group is up for sale are true, knowledgeable sources say. But there is one key factor that appears to have been overlooked thus far: management is controlling the company's sale process so far. Consequently, Con ...

  4. Fred Wilson Confirmed for Keynote at Billboard FutureSound Conference

    October 25, 2012 8:00 AM EDT Venture capitalist Fred Wilson will be a keynote speaker at the Billboard FutureSound Conference, presented in association with Loeb & Loeb LLP, which will take place November 15-16 in San Francisco. Wilson is managing partner at New York-base ...

  5. 'American Idol' Creator Simon Fuller to Bid on EMI Assets

    October 08, 2012 6:54 PM EDT Simon Fuller, the Spice Girls svengali and creator of the TV format behind American Idol, is looking to submit a bid for all the EMI businesses that Universal Music Group must sell. Vivendi-owned UMG recently won regulatory approval of its $1.9 bi ...

  6. 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 ...

  7. Guggenheim Partners Nearing Deal to Buy Dick Clark Productions

    August 30, 2012 8:55 AM EDT Guggenheim Partners has entered final negotiations to acquire Dick Clark Productions for an amount that exceeds its hefty asking price, multiple sources have told The Hollywood Reporter. The deal for the storied production company behind the Golde ...

  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. ICM Finalizes Equity Firm Buyout, Excludes Former CEO Jeffrey Berg

    May 23, 2012 4:28 PM EDT International Creative Management has finalized its deal to buy out majority owner Rizvi Traverse Management and has formed a new partnership structure for the agency, the company said Wednesday. ICM will be renamed ICM Partners to reflect the cha ...

  10. 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 ( ...

  11. 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 ...

  12. Business Matters: Are Advances Hurting Digital Music?

    February 15, 2012 9:10 PM EST Are Advances Hurting Digital Music? -- Are the advances paid to rights owners by music startups hurting digital music or limiting rights owners' exposure? One view of advances is the one espoused by Larry Marcus of Walden Venture Capital. &qu ...

  13. Billboard Power 100: Fred Wilson

    January 26, 2012 9:35 PM EST No. 86 Fred Wilson Managing Partner Union Square Ventures Twitter: @FredWilson Thought Leader... When Fred Wilson speaks, people listen. When he invests in a startup, careers are made. A managing partner at venture capital firm Union Square Ventur ...

  14. 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 ...

  15. Sirius XM Radio Adds 334,000 Subscribers in Third Quarter

    November 01, 2011 9:05 AM EDT Sirius XM Radio added 334,000 subscribers in the third quarter, the satellite radio company reported Thursday. That brings their total to 21.3 million subscribers. It also reported a revenue of $763 million, up 6 percent over third quarter 2010 re ...

  16. 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 ...

  17. EMI Auction: Second-Round Bids Are In, Questions Still Looming

    October 06, 2011 10:06 PM EDT With the second-round bids for EMI now in (as of Oct. 5), it will take a few days for clarity about the situation to emerge, sources say. Of course, Citigroup and EMI know what they have in hand, but bidders and their consultants are unsure of whe ...

  18. Warner Music CEO Edgar Bronfman, Jr. and Chairman Stephen Cooper Switch Jobs

    August 19, 2011 3:18 PM EDT Edgar Bronfman, Jr. and Stephen Cooper are switching roles with the former becoming the Warner Music Group chairman and the latter assuming the CEO position and responsible for the company's day-to-day operations. In a memo to employees , Bro ...

  19. Higher-Than-Expected Bids for EMI Group Could Favor Strategic Buyers--Including the Other Majors

    August 05, 2011 11:42 AM EDT With the first round of bids in for Citigroup's auction of EMI Group, the higher-than-expected levels of the bids suggest that strategic suitors--including the other major-label groups--may have a leg up on other bidders. Sources say at lea ...

  20. EMI: High Bids Put Strategic Buyers -- Including Other Majors -- in the Lead

    August 05, 2011 10:53 AM EDT With the first round of bids in for Citigroup's auction of EMI Group , the higher-than-expected levels of the bids suggest that strategic suitors-including the other major-label groups-may have a leg up on other bidders. Sources say at least ...

  21. 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,& ...

  22. 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 ...

  23. 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 ...

  24. 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 ...

  25. 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 ...

  26. 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 ...

  27. 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 ...

  28. 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� ...

  29. 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 ...

  30. 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 ...

  31. Business Matters: Warner Bidder Looking For New Way to Sell CDs/DVDs

    April 19, 2011 8:10 PM EDT Warner Bidder Looking For New Way to Sell CDs and DVDs -- Private equity firm Gores Group's Alec Gores said he would like to merge Alliance Entertainment Corp. with a Hollywood studio. "There are some great assets and great opportunities ...

  32. Warner Music Bidding Down to Three, More Could Join

    April 18, 2011 2:58 PM EDT The race for Warner Music Group is now down to the three most credible bids but the board would consider more bidders, according to a person with knowledge of the discussions. These three companies were identified by a Bloomberg report as Yucaipa ...

  33. 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 ...

  34. 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 ...

  35. 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 ...

  36. 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 ...

  37. Wall Street Analysts, Investors Unenthusiastic About Possible Live Nation-Warner Music Union

    April 04, 2011 1:51 PM EDT While the stock market appears indifferent to Live Nation's bid for the Warner Music Group 's recorded music operation, Wall Street analysts and investors surveyed by Billboard over the past couple of days gave the potential deal a thumb ...

  38. Report: Myspace Bidding Starts Wednesday, Music Unit Planning New Products

    April 04, 2011 11:48 AM EDT Myspace and parent company NewsCorp will give interested bidders for the struggling social networking site access to its financials and other details beginning this Wednesday, according to a report in AllThingsD . While reports of "talks" ...

  39. Alliance Entertainment Acquires EDGE Entertainment Distribution

    March 11, 2011 3:34 PM EST Alliance Entertainment has acquired EDGE Entertainment Distribution in the first move of a planned roll-up of music and video wholesalers. Terms of the deal were not disclosed but Platinum Equity and the Gores Group, which financed the acquisition ...

  40. Universal Music Posts 10% Revenue Gain, Matches 2008 Revenue in Q4

    March 02, 2011 11:54 AM EST A strong end to 2010 gave Universal Music Group a 9.9% increase in revenue in the fourth quarter, according to financial details released by parent company Vivendi . It was the third straight year-over-year increase in quarterly revenue. Full-year ...

  41. WMG Businesses Receive More Than 10 Bids in Auction

    February 28, 2011 7:00 PM EST The Warner Music Group has received more than 10 bids in the first round of the auction being conducted on its behalf by Goldman Bros., according to Bloomberg News , who quoted anonymous sources. Sony ATV and BMG, the Berteslmann/KKR joint venture ...

  42. 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 ...

  43. 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 ...

  44. Citigroup Takes Over EMI

    February 01, 2011 11:36 AM EST Citigroup has acquired EMI Group and has recapitalized the major label group in a debt-for-equity swap, the two sides announced Tuesday. As a result, the company's debt has been reduced by 65% from £3.4 billion to £1.2 billion, and the compan ...

  45. 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 ...

  46. 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 ...

  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. 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 ...

  49. Business Matters: Terra Firma To Appeal Citigroup Ruling; WMG's Revenue Forecast Drops; RapidShare Fights For 'Free Speech'

    January 11, 2011 12:00 AM EST Terra Firma To Appeal Technical Aspects of Citigroup Case -- Terra Firma has filed for leave to appeal and will challenge technical aspects of its trial with Citigroup, Private Equity News reported on Tuesday. Terra Firma will not challenge the ve ...

  50. Business Matters: Terra Firma Close to Losing EMI, Reports Say

    December 13, 2010 12:00 AM EST Opinion and analysis of the day's music news. TERRA FIRMA COULD LOSE EMI BY CHRISTMAS -- Reports out of the U.K. claim Terra Firma could lose EMI by Christmas. The paper said Terra Firma chief Guy Hands has told investors to expect the worst ...

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