Universal Music boss Lucian Grainge locks eyes on $150m IPO pay out September 15, 2021 Universal Music’s stock market debut next week it set to land its boss Lucian Grainge an around $150m pay out, while he also cashes in on his Tencent investment. The British record label mogul, who nearly died of Covid-19 last year, is to receive the $150m through a “transaction bonus”, if the listing secures a [...]
Vivendi and Universal Music Group to split during €33bn Amsterdam IPO September 14, 2021 Vivdendi’s Universal Music Group, the music company behind Lady Gaga and the Rolling Stones, will split up during its €33bn initial public offering (IPO) set to land next week. Universal’s IPO will see it sever its ties with Vivendi, after dishing out 60 per cent of its shares to Vivdeni shareholders. The music group’s shares [...]
Andrew Neil resigns as chairman of GB News September 13, 2021 Andrew Neil has stepped down as chairman of GB News, the channel announced moments ago. Neil confirmed the news on his Twitter account. He will continue to contribute to GB News as a regular guest commentator. He said: “I am sorry to go but I have concluded it’s time to reduce my commitments on a [...]
Channel 4 agrees late deal with Amazon Prime to air Emma Raducanu’s US Open final September 11, 2021 Emma Raducanu’s US Open final against Leylah Fernandez will be aired live for free on Channel 4 after the broadcaster agreed a last-minute deal with Amazon Prime. The 18-year-old is the first British woman to reach a Grand Slam singles final since Virginia Wade, who played at Wimbledon, in 1977. Amazon Prime Video had exclusive [...]
Apple sales worth billions of dollars at risk after App Store ruling September 11, 2021 Apple has been declared “anticompetitive” by a US judge who has ruled that the tech giant must let developers use alternative payment methods, according to widespread reports. Judge Yvonne Gonzalez Rogers said Apple “engaged in anticompetitive conduct” by stopping apps from using payment methods other than its own, which charges fees of up to 30 [...]
CMA extends deadline to probe Facebook’s $400m Giphy deal September 10, 2021 The Competition and Markets Authority (CMA) has today extended the deadline of its investigation into Facebook’s $400m acquisition of Giphy until December 2021, according to the CMA website. The changes to the schedule of the regulator’s investigation follows criticism levelled at it by the social media giant Facebook after the CMA said it may force [...]
Buyout hangover: Cineworld dishes out another $170m to Regal Entertainment shareholders September 10, 2021 Cineworld’s 2017 buyout of US chain Regal Entertainment has come back to bite, after the London-listed cinema operator pledged another $170m to placate Regal Entertainment shareholders who weren’t happy with the price they received for its takeover. The world’s second-largest cinema operator said that through a new agreement, $92m will be held in escrow and [...]
Facebook accused of gender discrimination in job adverts September 9, 2021 Campaign groups have accused Facebook of breaking UK equality laws by allegedly allowing businesses to target job ads based on gender. Campaign group Global Witness submitted complaints to the Equality and Human Rights Commission (EHRC) and Information Commissioner, after finding that posts for jobs, traditionally associated with particular genders such as mechanics or psychologists, were [...]
Shakespeare on advertising: Wetherspoons beer shortages hit public perceptions September 8, 2021 Cut-price pub chain JD Wetherspoon was in the news recently following reports that supplies of Heineken, Carling, and Coors have run out in some of its locations across the UK. While some have argued that Brexit has impacted supply chains, company founder Tim Martin has attributed the issues to the ongoing COVID-19 pandemic. Whatever the [...]
CMA says Sony’s $430m purchase of independent label AWAL raises competition concerns September 7, 2021 The UK’s competition watchdog has today said the US recording giant Sony’s purchase of independent record label AWAL could lead to worse terms for musicians. Sony bought the company, which represents artists such as Jungle, Banks, Nick Cave and the Bad Seeds, and Deadmaus for $430m back in May. At the time, the Competition and [...]