Universal Music Group Posts

SoftBank Reportedly Offered To Buy Universal Music For $8.5 Billion

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SoftBank CEO Masayoshi Son oversaw the $21.6 billion acquisition of Sprint.  That was not the only big deal that Son wanted to put together.  According to The Financial Times, SoftBank also reportedly made an $8.5 billion cash offer to buyout Universal Music Group.

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Apple and Sony Streaming Radio Talks Stall Due To Song Skipping Issues

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Apple
has been in talks with music labels about launching a streaming music service that would compete against services like Google Play Music All Access, Spotify, and Pandora.  Apple wanted to roll out the streaming music service this summer, but some of the details that they are trying to figure out with Sony Music is how much Apple would pay for songs that people listen to for a short period of time and then skip, according to sources with CNET.  There are also other issues in the negotiations.

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Google In Talks To Put $50 Million Into Vevo

Google Inc. is currently in talks to invest $50 million into music video service Vevo LLC.  Google would own less than 10% of the company as part of the investment and would give the music video website a valuation of about $500 million according to sources with Bloomberg.  The negotiations are still in early stages.

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Mog Sells Ad Network For $10 Million

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Mog is the online music service that sold half of their company to Beats Electronics.  The other half of the company, which is the advertising network, has been sold to Townsquare Media Group.

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Judge Rules In Favor Of Grooveshark Against Universal Music

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A judge has ruled in favor of Grooveshark against record label company Universal Music Group. The judge rejected an argument that would make Grooveshark responsible for determining the copyright status of all pre-1972 recordings. Universal attempted to claim that safe harbor provisions in the Digital Millenium Copyright Act (DMCA) do not apply to recordings that were made before 1972. EMI tried to use the same argument against MP3tunes last year. Universal was also stopped by the judge over attempts to have counterclaims by Grooveshark dismissed.

Sony Completes Acquisition of EMI Music Publishing


An investor group that was led by Sony has closed a $2.2 billion acquisition of EMI Music Publishing yesterday. EMI Music Publishing deals with songwriting rights. This deal will give Sony control of over 2 million songs and a global market share of 31%, which is 9 points above Universal Music Group.
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Amazon Close To Signing Four Major Music Labels For Cloud Service


Amazon’s Cloud Drive and Cloud Player services is nearing a deal to have the four major music labels on-board. EMI, Sony Music, Universal Music, and Warner Music have all signed deals that will allow Amazon to offer a scan-and-match download service that Apple has on iTunes Match. Amazon will be able to access every song that a listener owns without having to directly upload each track that was not directly bought from the Amazon MP3 store.

Apple Fighting Against Musicians To Have Steve Jobs Deposition Made Public


In February 2009, I wrote an article about Eminem’s publishing company taking Universal Music Group to court and the late Apple CEO Steve Jobs was going to testify. Jobs did provide a deposition for that case and now a group of musicians is bringing a class action lawsuit against UMG. These musicians are interested in hearing Jobs’ deposition from back then, but Apple is fighting against making the deposition public claiming that it contains ”highly confidential and proprietary trade secrets.”
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