On Friday (December 12), Common Music Group mentioned that it has submitted a “sturdy treatment that comprehensively addresses” the European Fee’s “solely remaining concern” about its proposed acquisition of Downtown Music Holdings.
In the meantime, GoDigital Music acquired “a number of” Latin music catalogs in a transaction valued at roughly $115 million. The corporate has additionally acquired the publishing catalog of Marc Anthony.
Elsewhere, A&R veteran Craig Kallman was appointed Chief Music Officer at Warner Music Group after practically 35 years at Atlantic Information.
Additionally this week, Spotify formally launched music movies within the US and Canada for Premium customers, whereas Rostrum Pacific secured $150 million in financing to develop its music catalog.
Listed here are a few of the largest headlines from the previous few days…
1. UMG SUBMITS ‘ROBUST REMEDY’ TO EU REGULATOR TO ADDRESS ‘ONLY REMAINING CONCERN’ ABOUT $775M DOWNTOWN DEAL
Common Music Group has submitted what it calls a “sturdy treatment” to the European Fee, following receipt of a Assertion of Objections final month concerning its proposed $775 million acquisition of Downtown Music Holdings.
A UMG spokesperson informed MBW on Friday (December 12) that the corporate’s response to the regulator “comprehensively addresses” the Fee’s excellent difficulty with the transaction.
“Following constructive conversations with the European Fee, we have now submitted a strong treatment that comprehensively addresses the Fee’s solely remaining concern,” the spokesperson mentioned.
They added: “This deal is about providing unbiased music entrepreneurs entry to world-class instruments and help to assist them succeed.
“We’re assured that the Fee will acknowledge the advantages of the transaction for artists, labels, unbiased music, and followers in Europe, and clear the transaction swiftly…“ (MBW)
2. GODIGITAL MUSIC BUYS MARC ANTHONY CATALOG IN EIGHT-FIGURE DEAL; ACQUIRES BROADER TRANCHE OF LATIN MUSIC RIGHTS IN SEPARATE $115M TRANSACTION
GoDigital Music says it has acquired “a number of” Latin music catalogs in a transaction valued at roughly $115 million.
The corporate mentioned that the deal provides greater than 30,000 new belongings to its catalog and was financed by Areas Financial institution and Corrum Capital.
As a part of the announcement, GoDigital Music additionally revealed that it has acquired the publishing catalog of Marc Anthony, whom it calls “one of the vital influential Latin artists of all time”.
The corporate confirmed that the separate Marc Anthony deal was an eight-figure transaction… (MBW)
3. CRAIG KALLMAN APPOINTED CHIEF MUSIC OFFICER OF WARNER MUSIC GROUP
A&R veteran Craig Kallman has been appointed Chief Music Officer at Warner Music Group. Based mostly in New York, Kallman will report on to WMG’s CEO Robert Kyncl.
Based on WMG, on this elevated function, Kallman will present his “deep A&R experience” throughout WMG’s artist roster and label group globally.
The transfer follows his practically 35 years at Atlantic Information, the place he served as Chairman and CEO of the label for 20 years earlier than transitioning to Chief Music Officer… (MBW)
4. SPOTIFY LAUNCHES MUSIC VIDEOS IN THE US AND CANADA FOR PREMIUM USERS
Music movies are formally rolling out in beta to Premium Spotify customers throughout the US and Canada.
The function, which Spotify says is likely one of the “most anticipated” amongst its customers, will likely be obtainable to all Premium customers in each international locations by the tip of December, Spotify confirmed in an emailed assertion to MBW.
Premium subscribers within the US and Canada could have entry to a “restricted catalog” of official music movies, together with “new video codecs” together with reside performances and canopy variations.
With this rollout, Spotify mentioned that Premium customers within the US and Canada could have entry to music movies from artists like Ariana Grande, Olivia Dean, BABYMONSTER, Addison Rae, Tyler Childers, Natanael Cano, and Carín León… (MBW)
5. ROSTRUM PACIFIC SECURES $150M FROM CRAYHILL CAPITAL TO ‘ACCELERATE’ MUSIC CATALOG ACQUISITION STRATEGY
Rostrum Pacific, the mother or father firm of indie label Rostrum Information, has secured $150 million in financing to develop its music catalog.
Rostrum mentioned on Thursday (December 11) that the financing got here from New York-headquartered Crayhill Capital Administration, a non-public credit score funding specialist with $2.9 billion in belongings beneath administration.
Crayhill’s financing marks a “important growth” of Rostrum’s catalog acquisition technique, and can permit the corporate to “pursue catalog alternatives of any scale and combine them into its sturdy, absolutely unbiased, and already-established ecosystem,” the corporate mentioned... (MBW)
Accomplice message: MBW’s Weekly Spherical-up is supported by BMI, the world chief in performing rights administration, devoted to supporting songwriters, composers and publishers and championing the worth of music. Discover out extra about BMI right here. Music Enterprise Worldwide
