Bits & Pieces: Warner Closes Final Round – Will the Victor Go the EMI Spoils Too?, Radio Staff Grows at Q Prime & more…
Destined to be combined?
The final round in the Warner Music auction closed yesterday, with two primary bidders said to be vying for the company, one being Len Blavatnik’s Access Industries and the other, a coalition of brothers Tom and Alec Gores, whose respective company’s are Platinum Equity and Gores Group – both suitors reportedly tendered bids around $3billion for the entirety of WMG. Attention has begun to drift to the looming sale of EMI by owner Citigroup, and the belief de-jour is that whomever ends up nabbing Warner Music, will also be aggressive in securing EMI as well. The result would likely be a cut and paste job between the various components of the two music groups. In another twist, The Telegraph reported yesterday that KKR-backed BMG Rights Management and Universal Music Group may be teaming up in an attempt to acquire either or both EMI and Warners, having put together a plan to carve up catalogues in an effort to avoid regulatory hurdles… Elsewhere, according to FMQB, Q Prime is expanding its promotion team, with an emphasis on bolstering the undertakings of its premier management operation, with a roster including Cage the Elephant, The Black Keys, Silversun Pickups, Snow Patrol, Muse and many others. Q Prime’s Mom + Pop Records, who has releases from Sleigh Bells, Metric, Freelance Whales among others, should also benefit from the increased staff. The additions include Trina Schaefer (formerly of Island Def Jam), Erin Gellert (formerly of Epic Records), Devin Rosevear, Chris Frank (formerly of Universal Motown) and Michael Fang (formerly of Red)… Meanwhile, the news of a nearly 25 million additional user accounts being compromised in the recent PlayStation Network breach (77 million were initially reported) smacks of the Sony BMG rootkit blunder (and ensuing lawsuits), and it can’t be good news for Sony Corp. CEO Howard Stringer, whose term has recently begun to be put in question more frequently… And for an interesting read about some of what labels are said to be demanding from cloud music, or locker, services (efforts from Amazon, Apple, Google and Spotify being the most widely discussed), check out the guest post from MP3.com and MP3Tunes founder Michael Robertson on TechCrunch.
[UPDATE - Bloomberg first reported yesterday that a last minute joint-offer for Warners was submitted by Sony/ATV Music Publishing and Ronald Perelman and Guggenheim Partners LLC. A winning bidder is expected to be announced on Friday.]
12.15.09Bits & Pieces: A Very Indie X-mas
The Lonely Forest finds a home
For those grinding it out to the bitter middle of the month, we have a few signing and artist stocking stuffers for you… CMJ buzz act Freelance Whales have signed to the Q Prime-backed Mom & Pop Records, though it appears there’s another East Coast indie label who will be involved as well. Exact details on the label collaboration are still unclear… Seattle’s The Lonely Forest will be recording with Death Cab For Cutie’s Chris Walla in the new year and it appears the band is signing with Walla’s Atlantic Records-imprint label as well. Indie 2-piece Awesome New Republic are feeling the heat from both labels and publishers, but does one label already have the edge? We hear the Miami-based duo has been making the reverse snowbird flight north to showcase repeatedly. ANR recently released their full-length album Hearts via Honor Roll Music, a newcomer to keep an eye on. You may remember them from the New York Times article on the burgeoning Miami indie scene who said the production house/studio/label “…is like the Brill Building meets Sub Pop.”
In the Mix: Minus the Bear, Randy Sabiston, Joe Purdy
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