The loan company that recently filed legal papers confirming its intent to force the Bestival Group into administration yesterday said that it had now made an offer to buy the festival firm, a move that it says will assure Camp Bestival 2019 can go ahead.
The Bestival company itself confirmed last weekend that it had had "some financial challenges" of late. This followed media reports that money lender the Richmond Group – which seemingly loaned the festival £1.6 million early...
Posted on: 27/09/2018Categories: News from CMU Online
The estate of 1950s pop star Ricky Nelson has sued Sony Music over a common royalties gripe. Namely, the way global music companies often make deductions to income as it moves its way around their various regional subsidiaries, before calculating what the artist is due under the terms of their record contract in their home country.
Such deductions have traditionally been common in the record industry. Partly because, when it comes to physical product, releasing a record in each new territory...
Posted on: 27/09/2018Categories: News from CMU Online
Camden's Koko venue will be closed until next month, it has been announced, so that "a structural issue" can be dealt with. Several shows affected by the closure have been moved to other venues, while others have been cancelled.
Operations Director of the venue's owner Mint Group, Larry Seymour, says in a statement: "Our consultant surveyors recently made us aware of a structural issue with this 117 year old building. The protection and well-being of our customers and staff is of paramount...
Posted on: 27/09/2018Categories: News from CMU Online
The owner of a record label that dropped Canadian punk band Zex over sexual assault claims against guitarist Jo Capitalcide has withdrawn his allegations. In return the musician has dropped a defamation lawsuit against the label boss.
In a new statement on the record company's Facebook page, Magic Bullet founder Brent Eyestone says: "In September 2017, I published a statement on the website of Magic Bullet Records, and on Facebook, in which I made certain allegations about Jo Capitalcide,...
Posted on: 27/09/2018Categories: News from CMU Online
Live Nation's Ticketmaster in the US continues to push back against criticism over its involvement in the secondary ticketing market Stateside following last week's exposé by the Toronto Star and CBC. In a new post on the company's corporate blog, the ticketing giant's President Jared Smith insists that at least some reporting and commentary around last week's revelations are based on a misunderstanding of what the firm's TradeDesk product does.
The Toronto Star/CBC report centred...
Posted on: 27/09/2018Categories: News from CMU Online
As AEG abandons its O2–Staples Center block booking, both it and Sharon Osbourne – whose husband, Ozzy, sued over the policy – are celebrating
Lawyers for Ozzy Osbourne have agreed to drop their lawsuit against AEG after the US venues giant ended its 'Staples Center Commitment' tying booking between Staples Center in LA and the O2 in London.
The long-running 'booking war' between AEG and Madison Square Garden Company (MSG) reached its conclusion earlier this month...
Posted on: 27/09/2018Categories: News from IQ Magazine
The $3.5bn deal sees SiriusXM – majority owned by Liberty Media, whose CEO Greg Maffei is LN's chairman – become the "world's largest audio entertainment company"
SiriusXM has created the "world's largest audio entertainment company" by acquiring internet radio/streaming service Pandora Media, the US satellite radio giant said today, in news that is likely to reignite speculation about a potential merger with Live Nation.
The acquisition – an all-stock deal worth...
Posted on: 27/09/2018Categories: News from IQ Magazine
NEC Group's Birmingham arena will be renamed after the shopping centre over the road this December
The UK's NEC Group has announced the rebranding of Genting Arena to Resorts World Arena, aligning its branding with the shopping and entertainment centre opposite the venue.
Genting UK, a subsidiary of Kuala Lumpur-based Genting Group, has held the title sponsorship of the 15,700-capacity venue since January 2015, and will continue to do so under the new name. Resorts World Birmingham...
Posted on: 27/09/2018Categories: News from IQ Magazine
The international music publishers' association has welcomed John Phelan, formerly of IFPI, as its new director-general
The International Confederation of Music Publishers (ICMP) appointed John Phelan as director-general, effective 1 October. He succeeds Coco Carmona.
The announcement was made public during ICMP's Central and Eastern European Music Publishers' Congress in Bucharest.
Irishman Phelan comes to ICMP with a background encompassing law, conservatoire training and several...
Posted on: 27/09/2018Categories: News from IQ Magazine
The Reeperbahn Festival will present more than 800 events spanning a range of genres in locations around Hamburg's Reeperbahn, in Germany. It's one of the most important meeting places for the music industry worldwide. In addition to some 500 concerts, the festival programme includes events in the fields of fine art, film, and literature as well as a conference programme that is designed for professionals active in the music and creative digital industries and features sessions, showcases, networking...
Posted on: 15/09/2017Categories: Industry Event News