Universal Music Group

Cyrille Bolloré, CEO of Bolloré SE, has publicly advised Universal Music Group N.V. (OTC:UNVGY) to reject the $64 billion takeover bid from Bill Ackman, citing the undervaluation of the music label and the proposal’s misalignment with the company’s long-term strategy....

Shares of Universal Music Group N.V. (OTC:UNVGY) surged over 11% on Tuesday, as Bill Ackman’s hedge fund Pershing Square offered to buy the world’s biggest music label in a cash-and-stock deal worth around 55.8 billion euros ($64.4 billion). Under the deal, which is expected to be...

Howard Hughes Holdings (NYSE:HHH) surged 2.78% during Wednesday pre-market, after non-Executive Director, Bill Ackman, stepped down from the Board of Directors of Universal Music Group N.V. (OTC:UMGNF). The decision comes in light of new obligations towards Howard Hughes that Ackman has undertaken...

Spotify Technology SA (NYSE:SPOT) has strongly denied allegations from Drake that it “artificially inflated” streaming numbers for rival artist Kendrick Lamar’s track “Not Like Us.” What Happened: In opposition papers filed, Spotify stated it “has no economic...

Taylor Swift has taken matters into her own hands by reintroducing her music to TikTok, sidestepping her label’s ban. The move comes just in time for the release of her new album, stirring excitement among fans and creators on the platform. What Happened: Defying Universal Music Group‘s...

Songs from artists like Taylor Swift, Justin Bieber, Drake, and others are beginning to be removed by Universal Music Group after a failure to secure a new licensing agreement with ByteDance-owned TikTok. What Happened: In its open letter, UMG said despite prolonged negotiations, talks with TikTok...

Universal Music Group has indicated its intention to pull its music from TikTok, accusing the platform of employing strong-arm tactics to push through a renewal agreement that is less beneficial than their previous contract. What Happened: UMG has expressed its dissatisfaction with TikTok’s...

The year is 2023, but fans of one bestselling artist can’t wait for it to be 1989. A new puzzle on the Google search engine celebrates an upcoming highly anticipated album release from Taylor Swift. What Happened: It’s Taylor Swift’s world and we’re all just living in it. No...

According to Goldman Sachs, the music industry is on the brink of a significant transformation due to generative AI, offering “significant opportunities” for the sector, CNBC reports. Goldman Sachs has identified five buy-rated stocks to leverage this trend: Live Nation (NASDAQ:LYV),...

Former music download platform Napster is the latest to throw its hat in the web3 and non-fungible token ring. Napster and LimeWire are two brands from the early 2000s that helped pioneer song downloads for free that are being revived into companies helping artists monetize themselves. What...

A leading metaverse company announced a new funding round to take the company to a $1 billion valuation and scale the company’s growth plans. What Happened: Avatar technology company Genies announced a $150 million Series C funding round led by Silver Lake. The funding round values the...

The former leader of one of the most well-known companies has joined the board of directors of a metaverse company. What Happened: Former Walt Disney Co (NYSE: DIS) CEO Bob Iger is joining the board of directors of Genies Inc, a company he also invested in. “I was particularly interested in...

Lash Music LLC, a company owned by American singer-songwriter Billie Eilish that protects her music and brand, filed two trademarks for BILLIE EILISH and her Blohsh logo with documents implying future expansion into the non-fungible token (NFT) industry. What Happened: U.S. Patent and...

Hedge fund investor and Pershing Square Capital Management CEO Bill Ackman announced a new large purchase Wednesday, causing a bump in the share price of streaming giant Netflix Inc (NASDAQ: NFLX). What Happened: Ackman tweeted that Pershing Square purchased 3.1 million shares of Netflix, which...

Billionaire hedge fund manager Bill Ackman will be headed to court after a new lawsuit was filed on Tuesday related to his special purpose acquisition company (SPAC). What Happened? The New York Times reported that former SEC commissioner Robert Jackson and Yale Law School professor John...