UMG, TikTok Expand Global Alliance
• Universal Music Group (UMG) and short-form video app TikTok announced a global agreement that delivers equitable compensation for recording
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TRANSACTIONS
7MM Buys, Sells, Swaps
• Seven Mountains Media (7MM) just pulled off a complex, three-company, three-market acquisition, divestiture and swap involving Sound Communications and
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Warner Teams Up With BPG Music
• Warner Records announced the launch of an innovative strategic partnership with BPG Music, founded by Gee Roberson and longtime
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Cowherd, iHeart Pump Up The Volume
• Veteran sports-talk personality Colin Cowherd has partnered with iHeartMedia to launch a new podcast network, The Volume. The agreement
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Concord Partners With Dan Auerbach
• Concord has entered into a long-term, exclusive joint venture with Easy Eye Sound, the label founded by Grammy-nominated producer/songwriter
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Sony Music To Acquire Kobalt, AWAL
• Sony Music Entertainment (SME) has entered into a definitive agreement with Kobalt Music Group Ltd. to acquire Kobalt’s recorded
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Tencent Now Owns 20% Of UMG
• Tencent Holdings Limited announced that a Tencent-led consortium has completed the acquisition of an additional 10% equity stake in
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Big Hit Gets Bigger
• Big Hit Entertainment, the agency behind global superstars BTS, announced that it plans to invest 70 billion won ($63
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Liberty Media Looking To Bulk Up
• Liberty Media Corporation has launched an “indirect subsidiary” dubbed Liberty Media Acquisition Corporation (LMAC), a newly formed “blank check”
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Mercedes & JC Held Over In Vegas
• Entercom announced new multiyear contract extensions with Mercedes Martinez and JC Fernandez to continue as hosts of Mercedes in
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