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“#Bill Ackman calls it quits on his giant SPAC days after shareholder lawsuit” Billionaire investor Bill Ackman said he’s throwing in the towel on his giant blank-check company — just days after he was slapped with a shareholder lawsuit that claims it was set up illegally. In a Thursday letter to shareholders of his $4…
“#Billionaire investor Bill Ackman eyes US listing for Universal” Bill Ackman, whose blank check acquisition company struck a deal to buy 10 percent of Universal Music Group last week, is exploring options to increase his stake in the music label and expects to close his next deal soon, he told investors on Wednesday. The billionaire…
“#Vivendi shareholders back spinoff of Universal Music Group” Vivendi shareholders overwhelmingly backed the spinoff of its lucrative Universal Music Group, home to recording artists like Taylor Swift, Lady Gaga and Ed Sheeran. With more than 99 percent approval, shareholders on Tuesday voted in favor of the plan to distribute 60 percent of UMG’s shares to…
“#Vivendi sells 10 percent stake in Universal Music Group to Ackman’s SPAC” Billionaire investor Bill Ackman bought a 10 percent stake in Vivendi’s Universal Music Group for $4 billion, valuing the world’s largest record label — which is home to Drake, Taylor Swift and Billy Eilish — at around $42 billion. Ackman’s blank-check company Pershing…
“#Pershing Square in talks to buy 10 percent of Universal Music” Billionaire investor Bill Ackman confirmed Friday that his blank-check company Pershing Square Tontine Holdings is in talks to buy a 10-percent stake of Universal Music Group for about $4 billion. The transaction would value the Vivendi-owned Universal Music, which is the home to singers…
“#Universal Music paid record exec Charlie Walk $1.7M in sex-harass case” Universal Music Group paid its former high-flying record exec Charlie Walk $1.7 million to walk away in a 2018 amid sexual harassment and assault claims against him, according to newly unsealed court documents. The settlement amount was revealed in a separate legal dispute in…
“#Universal Music Group leans into e-commerce with new executive hire” Universal Music Group said Tuesday that it is looking to expand its e-commerce business under new hire Richelle Parham. The world’s biggest music company, which represents the likes of Taylor Swift, Lady Gaga, Billie Eilish and Post Malone, is expected to be spun off by…
“#Red Hot Chili Peppers to sell song catalog for $140M: report” The Red Hot Chili Peppers are reportedly selling the rights to their song catalog — which includes hits like “Under the Bridge,” “Give It Away” and “Californication” — for $140 million. The Anthony Kiedis-fronted band is selling the publishing rights to its songs to…
“#BTS record label is searching for the next K-pop sensation” Don’t let the notorious #BTSArmy hear about this: Boy band hopefuls are gearing up for a battle to become the next BTS. Big Hit Entertainment, the label behind the K-pop sensation, and Universal Music Group will develop the new band, according to a joint statement…
“#Tencent doubles stake in Universal Music Group” Chinese internet giant Tencent is doubling its stake to 20 percent in Universal Music Group, the home of entertainers like Ariana Grande, Lady Gaga, Billie Eilish, Drake and the Beatles. Tencent said Friday that it was leading a consortium that agreed to buy an additional 10 percent stake…