Category: Financial/Legal

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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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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Circuit City Going Under

Circuit City will liquidate its nationwide chain of more than 500 consumer electronics stores. After courting prospective buyers and investors, as well as filing Chapter 11 in November, the nation’s second-biggest consumer electronics retailer announced today (1/16) that it had run out of viable options to stay afloat. The closures will leave the chain’s 30,000 […]

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Turmoil on Gaylord Board

Gaylord Entertainment is in a dispute with its largest shareholder, TRT Holdings, over the way Gaylord executives are running the company. TRT, which owns properties including the Omni Hotel chain, yesterday (1/15) sent an open letter to shareholders criticizing Gaylord’s senior management and seeking support to elect four of its own people, including TRT CEO […]

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RIAA Changes Strategy In Fight Against Illegal Downloading

The RIAA has stopped filing lawsuits for illegal downloading and is now fighting the problem through Internet service providers (ISP). The Wall Street Journal reports that the music industry—which has sued 35,000 alleged downloaders for copyright infringement since 2003—hasn’t filed a suit since this fall. The lawsuits had created numerous public/consumer relations for the industry […]

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