News Update: Shareholders Hope To Block WMG Sale, Harry Fox Offers Reduced %, ShowClix
Shareholders challenged Warner Music Group's $3.3 billion sale to Access Industries for $8.25 a share, a mere 4.4% premium over the pre-announcement share price, a sale they say will give Warner CEO Edgar Bronfman Jr. an unfair $13.6 million payout. (Courthouse News)
- The Harry Fox Agency (HFA) has added a Reduced Commission Program that offers publishers a rate of 5.25% on royalty distributions in exchange for centralizing U.S. mechanical licensing and royalty processing with HFA.
HFA's new program also provides additional benefits including advances and inclusion in HFA’s Royalty Compliance Examinations.
- Ticketing platform ShowClix has named Pat Lucas director of sales.
- UPS and Live Nation today announced a multi-year sponsorship deal aimed at promoting UPS’s environmentally responsible logistics solutions. Through UPS, Live Nation will purchase carbon CO2 offsets to mitigate the emissions produced by ticket and merchandise deliveries. More on this alliance tomorrow.