The inhabitants of music-biz-land are still trying to get their heads around the fact that two of the Top 5 publishing companies may well change hands in the next few months. As we recently reported, Bertelsmann will offer BMG Songs to selected bidders this month to raise money to buy back the 25.1% stake of the company now owned by Groupe Bruxelles Lambert. Meanwhile, as EMI prepares its next bid to buy Warner Music Group, it’s generally assumed that it will be #2 Warner/Chappell, rather than #1 EMI Music Publishing, that EMI will put up for sale if the deal goes down. The situation brings added intrigue to the recent hiring of former Warner/Chappell head Les Bider as “Executive-in-Residence” at private equity firm Elevation Partners, owned by U2 frontman Bono. Bider reportedly will assist the company in evaluating investments, primarily in the music industry and related areas, and may become involved in the management of any moves the firm makes in the sector. Considering Bider’s knowledge of the strengths and weaknesses of the generally profitable W/C and its true value, could Elevation be one of the companies making a play, and could Bider wind up once again calling the shots at his former place of employment? The music publishing space is sure to get extremely interesting in the coming months, so stay tuned… Word on the street is that
BUZZ/GIGS:
BURNING BRIDES Tues., June 6, 11 p.m., El Rey,
ASCAP SHOWCASE Tues., June 20, TBD, Troubadour,
MOBFEST MUSIC FESTIVAL June 22-24, various venues ,
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
SONG REVENUE:
A STYLISTIC STEW MC, divas and singer-songwriters rub elbows. (3/28a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|