Live Nation To Go Private?
Live Nation Entertainment is reportedly in discussions with shareholder Liberty Media Corporation that could lead to a private buyout of the concert promotion company, according to a report in the New York Post. Funding for a buyout deal, valued at approximately $3.6 billion, could come in part from private equity firm Thomas H. Lee Partners, and would give Live Nation the freedom to pursue long-term business strategies without the market analysis of a public company. Sources emphasized that going public was just one option under consideration. (6/13)
EMusic To Launch Cloud Service, Spotify Inks UMG Deal
Online download service eMusic hopes to launch a cloud-based music service by the fourth quarter of 2011, according to a Billboard.biz report. The service will enable customers to stream downloaded songs to multiple Internet-connected devices, similar to the services recently launched by Amazon, Apple and Google. Ahead of launching a cloud service, eMusic will incorporate streaming features into its existing store in July. In related news, Spotify has finalized a licensing deal with Universal Music Group, leaving Warner Music Group as the last major record label that has yet to sign a licensing deal with the European streaming music service. The company expects to launch in the United States soon, according to Billboard.biz. (6/13)
GRAMMY Winners Garner Jazz Awards
GRAMMY-winning saxophonist Sonny Rollins won the Musician of the Year award at the Jazz Journalists Association's 2011 Jazz Awards on June 11 in New York. GRAMMY winner Dee Dee Bridgewater garnered Female Singer of the Year and GRAMMY winner Kurt Elling won Male Singer of the Year. Additional winners included Ambrose Akinmusire, Joe Lovano, Russell Malone, and GRAMMY Best New Artist winner Esperanza Spalding, among others. In related news, GRAMMY-nominated composer/lyricist Robert Lopez, Trey Parker and Matt Stone earned the Best Original Score (Music and/or Lyrics) Written for the Theatre for "The Book Of Mormon" at the 2011 Tony Awards on June 12 in New York. The musical also garnered awards for Best Musical and Best Orchestrations, among others. (6/13)