Friday Business Links
Kevin Morrow will replace Bruce Moran as president of Live Nation New York. Moran is now president of the company's Latin American division. (Billboard.biz)
It's closer to official: Guitar Center's filed a proxy statement that should lead to an acquisition by VH AcquisitionCo, Inc, a division of private equity firm Bain Capital Partners. Shareholders are being offered $63.00, an 8.4% premium over yesterday's close and 26% higher than the price the day before the deal was announced. (Schedule 14A at SEC.gov)
It's not completely official, but word is that eMusic and AT&T will launch a mobile download service on July 31. Subscribers will get five downloads per month for $7.49. Four handsets (three Samsung and one Nokia) will initially support the service. The tracks will be DRM-free, as is the standard with eMusic. Thanks, but I'll stick with my 65 downloads for $15 plan online. (Boy Genius Report)
"No genre has been better at developing arena-level headliners in the past decade as has country music." (Miami Herald)
Clear Channel reported a 19% increase in earnings in spite of flat radio revenues. (AP)
"It's money over music for many players in today's hip-hop world." (Hartford Courant)
Music Groups