Monday, March 31st, 2008
Daily News: Monday
U2 signs deal with Live Nation: “Concert promoter Live Nation has signed a 12-year deal with U2 to exclusively promote the band’s concerts, sell merchandise, and operate the group’s website. In return the band gets a heap of cash, likely more than $100 million. This deal sounds vaguely like the high-profile deal Live Nation (LYV) made last year to sign Madonna, but it’s not. In that case, Live Nation was also grabbing the rights to release new Madonna albums, but here Universal Music Group will continue to release U2’s new songs.” (via SAI)
Interscope Invests In Buzznet: “Pop culture-focused social media site Buzznet, based in Los Angeles, has raised a big-ish third round of funding, as much as $25 million, we have learned, and that Universal Music-owned Interscope has invested a few million in it.” (via PaidContent)
SoundExchange to Audit Last.FM: “SoundExchange has been citing Last.FM as an example of problems with royalties - contending that Last.FM had paid royalties of only a couple of thousand dollars a year, under the Small Webcasters Settlement Act, just before selling out to CBS for over $200 million.” (via DMW)
