France's market regulator, AMF, has begun disciplinary proceedings against Vivendi Universal stemming from an inquiry into a November 2002 bond issue and has made complaints about its two top executives.
SoundExchange, the label/artist collection and distribution group, can now distribute $11 million in initial Webcast royalties from Oct. 28, 1998 through Dec. 31, 2004, now that the U.S. Court of Appeals for the D.C. Circuit on Jan. 12 rejected appeals over the fairness of the rates set by the Librarian of Congress in June 2002. Both broadcasters and content owners appealed.
Former EMI Music Continental Europe president Emmanuel de Buretel has inked an exclusive global licensing deal with Warner Music International for his new venture, Because Music. The deal excludes France and the United Kingdom, where the company has specific distribution deals.
Comic book legend Stan Lee could be in for a monster payday after a Manhattan judge ruled that Marvel Enterprises had unfairly deprived him of profits generated by "Spider-Man" and other characters over the past seven years.
Peter Jenner has been re-appointed as secretary general of the International Music Managers Forum for a further two years. Speaking from Midem today (Jan. 25), Jenner says continued lobbying on behalf of the trade body's members will remain a key feature of his leadership.
Venerable Western Canadian music and consumer electronics retailer A&B Sound filed for bankruptcy protection Jan. 19 under Canada's Companies Creditors Arrangement Act. The company has announced that it plans to sell the 21-store chain to the U.S-based private investment firm Sun Capital Partners Group. The financial firm, based in Boca Raton, Fla., owns a wide array of retailers, including the Musicland Group.