Discounts on stock, lines of credit to prolong physical media sales
Major record labels will help keep British music retailer HMV stores running by offering potential buyers heavily discounted stock. Reports claim that Universal Music, Warner Music, Sony, and others will offer whatever company steps in to run the music chain help in keeping physical music and movie sales in the High Streets and away from Internet retailers.
Sony, Warner join in on Grooveshark lawsuit
Sony Music and Warner Music have now joined the copyright infringement lawsuit Universal Music started against online music service Grooveshark. The lawsuit was first filed in November and alleges that Grooveshark execs uploaded copies of songs to which they didn't have rights and thus broke the DMCA. The lawsuit was also amended with a detail that claims Grooveshark knew it needed a license for the material it offers, according to the Wall Street Journal.
Warner Music talks to Goldman for sale and buyout
Warner Music is consulting with Goldman Sachs to at once sell itself off and looking into a buyout of its rival EMI. Sources said on Thursday night that it had reacted to multiple buyers, including professional acquirer Kohlberg Kravis Roberts, making offers by having Goldman start a formal look into the process where it would sell all or just of the company, such as its Warner/Chappell publishing wing. The New York Times' contacts didn't say how close Warner might be to a deal.
Warner Music adds videos to Hulu service
Warner Music Group announced this past Tuesday that it will provide its music videos, concerts and other related content to Hulu's free online video service. At the same time, Hulu users will now be able to access artist interviews and behind-the-scenes footage of recording labels that include Atlantic Records, Rhino Records and Warner Bros Records. Muse will be the first band to get their music content displayed on Hulu.
Warner and YouTube split
Music videos from popular artists under the Warner Music label are disappearing from YouTube as talks regarding new licensing terms between the two companies have come to a halt, according to a Sunday New York Times report. Before the dispute, Warner Music had posted thousands of music videos from its artists on the Google-owned YouTube site, which accounted for billions of hits on the most popular video-sharing website. YouTube has informed its visitors on Friday via a blog post that the Warner Music videos, including user-generated videos with Warner music in the background, would begin disappearing.