Category: Financial/Legal

More Layoffs at Gibson Guitar

Gibson Guitar has announced that it will lay off 70 workers. News of these additional layoffs comes on the heels of an earlier announcement that the company would lay off 50 workers worldwide. At the time of that announcement, the company pointed out that the move involved less than 5 percent of the company’s total […]

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Mechanical Royalties Suffer

U.S. music rights licensing organization The Harry Fox Agency, Inc. (HFA), announced today that its 2008 royalty collections from all sources was $307.1 million, a 22% decline from 2007. Also in 2008, HFA issued over 2.44 million mechanical licenses, a 62% increase over 2007. Digital downloads also increased, by almost 47% over 2007, bringing the […]

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EMI Digital Chief Merrill To Exit

EMI Music announced today (3/23), that its President of Digital Music, Douglas Merrill will leave the company as its digital unit is integrated into its main operations. Formerly with Google, Inc., Merrill has been with EMI less than a year. EMI has promoted Cory Ondrejka to the newly created title of Executive Vice President of […]

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Sirius XM Receives Loan, Avoids Bankruptcy

Sirius XM Radio is avoiding bankruptcy through a $530 million loan from Liberty Media, the company which owns DirecTV and television outlets including QVC and Discovery. In exchange for the money, Sirius is giving Liberty 40 percent of its common stock as well as seats on its board of directors. The loan will be used […]

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Gaylord Drops 180 in Nashville

[Update 2/16; 9 pm] Gaylord has now announced it will reduce 3.5% of its workforce nationwide, cutting about 350 jobs. 180 positions will be eliminated in Nashville. According to the Fort Worth, Texas Star-Telegram, Gaylord Entertainment laid off 30 full-time people today (2/16) from its resort in Grapevine, Texas. The property has a workforce of […]

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Sirius XM Creditors Consider Ejecting Chief

Sirius XM Radio chief executive Mel Karmazin may be removed from his post by creditors if the company files for bankruptcy instead of making a deal to remain operational, the Wall Street Journal reports. Among the satcaster’s options to stay afloat are making deals with either EchoStar or Liberty Media Corp. The New York-based Sirius […]

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Category: Featured, Financial/Legal, Radio

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Spotify Offers Free Streaming

A new online listening service is getting rave reviews from users in Europe. Originally from Sweden and now available in the UK, Spotify allows free ad-supported streaming of personalized playlists. Because the streaming is unlimited, proponents of the system say it provides an incentive not to download illegally. Spotify reportedly has an exceptional catalog through […]

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Investigation Launches For Live Nation/Ticketmaster Merger

The Justice Department has begun an antitrust investigation into the proposed Ticketmaster/Live Nation merger. Many lawmakers, fans and artists believe that combining the two huge companies would result in unfair competition, giving one powerhouse too much control over the live entertainment industry. The federal agency is moving forward with the inquiry after only one day, […]

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Live Nation, Ticketmaster Announce Deal

Live Nation plans to buy Ticketmaster Entertainment for $2.5 billion in an all-stock merger of equals, the companies announced today (2/10) following much speculation. Pending regulatory approval, the combined entity will be called Live Nation Entertainment. It will be headed by Live Nation CEO Michael Rapino as CEO, Ticketmaster Entertainment CEO Irving Azoff as executive […]

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Performance Rights Act Back in Congress

The Performance Rights Act, which would create a sound recording performance right for terrestrial radio, was reintroduced to Congress today (2/4). The bill would require radio stations, which already pay royalties to songwriters for broadcasting their music, to also pay the artists and musicians performing the songs, as well owners of the master recordings. Under […]

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BMI Honors Gospel In Nashville

BMI recognized the substantial contributions of gospel pacesetters Twinkie Clark, Donald Lawrence, and CeCe Winans at the 10th Annual Trailblazers of Gospel Music Awards Luncheon Fri., Jan. 16 in Nashville. Hosted by BMI Vice President, Writer/Publisher Relations Catherine Brewton, the invitation-only celebration attracted gospel music’s premier songwriters, recording artists and music industry executives, as well […]

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