Universal Music Group has turned down a $64.3 billion takeover proposal from investment firm Pershing Square Capital Management, describing the offer as significantly below the company’s true value. The entertainment giant, home to global stars such as Taylor Swift, Sabrina Carpenter and Kendrick Lamar, said the proposal did not serve the interests of its shareholders,…
Universal Music Group, one of the world’s largest music companies, has confirmed it is reviewing a multibillion-dollar takeover proposal from Pershing Square, the US-based investment firm led by billionaire Bill Ackman. The proposed deal, valued at approximately $64.3 billion, would involve merging the two entities and listing the combined company on a US stock exchange…
Universal Music Group (UMG), the global powerhouse behind chart-topping artists like Taylor Swift, Drake, and Lady Gaga, has filed plans to go public in the United States – marking a major move that could reshape the landscape of the global music business. Already listed on the Euronext Amsterdam stock exchange with a valuation nearing €50…
Music producer Darius “Deezle” Harrison has filed a lawsuit against Universal Music Group (UMG), accusing the record label of failing to pay millions in royalties for his contributions to Tha Carter III, Lil Wayne’s Grammy-winning 2008 album. Harrison, credited on six tracks from the multi-platinum project – including the chart-topping single Lollipop – alleges he…
TikTok and Universal Music Group have reached a settlement in their royalties dispute, paving the way for the restoration of millions of songs to the platform, including those from artists like Billie Eilish and Ariana Grande. The resolution comes after a period of tension between the two parties, during which Universal Music Group withdrew some…
Universal Music Group’s recent acquisition of a majority stake in Mavin Records has stirred discussions within the Afrobeats community, prompting reflections on the impact of the deal on the genre’s landscape. Founded by Nigerian music producer and entrepreneur, Michael Collins, popularly known as Don Jazzy, Mavin Records has been a pivotal force in shaping the…
Universal Music Group (UMG) has made the decision to remove its vast music catalogue, including hits by Taylor Swift, Ariana Grande, Rihanna, and others, from TikTok, impacting over 1 billion users on the popular platform. The move comes after Universal declined to renew its licensing agreement with TikTok, which was set to expire on Wednesday,…
In a major legal twist, R. Kelly and Universal Music Group (UMG) have been mandated to make a substantial payment of over $500,000 in music royalties to the Brooklyn federal prosecutors. This landmark decision aims to contribute to restitution for R. Kelly’s victims and to cover unsettled criminal fines. The order, signed on August 23…
Universal Music Group — the music company representing superstars including Sting, The Weeknd, Nicki Minaj and Ariana Grande — has a new Goliath to contend with: artificial intelligence. The music group sent urgent letters in April to streaming platforms, including Spotify and Apple Music, asking them to block artificial intelligence platforms from training on the…
