Vivendi could earn about 9 billion euros ($10.9 billion) from the IPO, if it maintains majority ownership by unloading just just under 30% of UMG at the same 30 billion euros ($36.3 billion) valuation used last year when it sold a 20% stake to a consortium led by Chinese tech giant Tencent Corp. At that head-turning 36-times EBTIDA valuation, a multiple often seen in fast-growing tech companies, Tencent “made people take a step back and look at the valuations of music companies,” says Michael Poster, the head of Michelman & Robinson’s corporate and securities department. That’s not an unreasonable valuation: a rapidly-growing streaming market, believed by Goldman Sachs to reach 1.15 billion subscribers...
The company notes it is also in talks with major labels to offer their catalogs as fully approved and licensed DJ edits by April. Beatsource, the joint venture between Beatport and DJ City that services open-format DJs, has signed deals with independent distributors Empire and Create Music Group to create fully licensed DJ edits of some of the most popular tracks in their respective catalogs, it was announced today. The exclusive edits will be available beginning on Feb. 15 via Beatsource LINK, the streaming service launched by the company early last year. Under the agreements, Empire and Create Music have assembled extended edits of hits by artists including Fat Joe, Rich The Kid, Busta Rhymes, Anderson .Paak, Robin Thicke, DJ Chose, Funkmaster Flex, Tory Lanez and the Insomniac Records c...
Source: Bernard Smalls / @PhotosByBeanz83 If you thought the new year would bring you some good news when trying to buy an Xbox Series X, we have some bad news for you. It’s still incredibly hard trying to secure an Xbox Series X or a PS5, which will likely not change anytime soon. Speaking with the New York Times, Microsoft’s head of investor relations, Mike Spencer, revealed that the next-gen console supply will still be very limited at least through June. This news isn’t that surprising because Microsoft warned of an Xbox Series X shortage back in November, stating that we would continue to see shortages heading into “Microsoft’s Q3, calendar Q1,” claiming the company should have more consoles April through June. Spencer’s news means that customers should expect the grind to buy an...