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☆ Sony and Apollo offer $26 billion for Paramount: report
▼ + stars: | 2024-05-02 | by ( Paul Squire | Hayley Cuccinello | ) www.businessinsider.com time to read: +2 min

Sony and Apollo Global Management are reportedly bidding big for Paramount. AdvertisementSony and the private equity firm teamed up for an all-cash offer of $26 billion for Paramount Global, The Wall Street Journal reported on Thursday. Sony and Apollo's offer was nonbinding, according to the JournalApollo's bid comes after Paramount announced its CEO Bob Bakish was stepping down Monday. Apollo previously bid $11 billion for just Paramount's movie studio, the Wall Street Journal reported in March. Apollo partner Aaron Sobel co-signed the offer letter with Sony CEO Tony Vinciquerra, people familiar with the situation told the Journal.

Persons: Bob Bakish, They've, Hayley Cuccinello, Aaron Sobel, Tony Vinciquerra, Sobel, Lee Solomon, Shari Redstone hasn't Organizations: Sony, Apollo Global Management, Paramount, Paramount Global, Street, Skydance Media, RedBird Capital Partners, KKR, Apollo, Wall Street, Legendary Entertainment, Concord Music Group

☆ Music publishers ask court to halt AI company Anthropic's use of lyrics
▼ + stars: | 2023-11-17 | by ( Dawn Chmielewski | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLOS ANGELES, Nov 17 (Reuters) - Three music publishers are asking a federal court judge to issue a preliminary injunction that would prevent artificial intelligence company Anthropic from reproducing or distributing their copyrighted song lyrics. The three publishers filed a suit against Anthropic on Oct. 18, which accused the San Francisco company of "systematic and widespread" infringement of their copyrighted song lyrics. The publishers allege Anthropic "profits richly" from its infringement of their repertoires of copyrighted works, achieving a valuation of $5 billion while paying "nothing" to publishers or their songwriters. "Anthropic must not be allowed to flout copyright law," the publishers said in a court document supporting its request for a preliminary injunction. "If the court waits until this litigation ends to address what is already clear -- that Anthropic is improperly using publishers' copyrighted works -- then the damage will be done."

Persons: Dado Ruvic, ” Anthropic, Anthropic, Claude, Don McLean's, Buddy Holly, Dawn Chmielewski, Mary Milliken, Franklin Paul Organizations: REUTERS, Universal, Concord Music, ABKCO, Reuters, Anthropic, San, Franklin Paul Our, Thomson Locations: San Francisco, Los Angeles

☆ Music publishers sue Amazon-backed AI company, accusing it of 'systematic and widespread' infringement of song lyrics
▼ + stars: | 2023-10-19 | by ( Chris Johnston | ) www.businessinsider.com time to read: +4 min

The Amazon-backed AI company is accused of "systematic and widespread infringement" of song lyrics. AdvertisementAdvertisementThe AI company that Amazon recently took a $4 billion stake in is being sued by a trio of music companies, which have accused the startup of "systematic and widespread infringement of their copyrighted song lyrics." The suit against Anthropic was filed in Nashville on Wednesday by Universal Music Group Publishing (UMGP), along with Concord Music Group and ABKCO. UMGP is part of Universal Music Group, the world's biggest music company. The AI company is also accused of infringing material under copyright even when not specifically asked to do so.

Persons: —, Anthropic, Claude, Katy Perry, Matthew J . Oppenheim Organizations: Universal Music Group Publishing, Nashville Wednesday, Business, Service, Amazon, Wednesday, Concord Music, Universal Music Group, Oppenheim Locations: Nashville, UMGP, San Francisco, Anthropic

BMI generates about $145 million in 12-month earnings before interest, taxes, depreciation and amortization, according to the sources. Spokespeople for BMI, which is controlled by several TV networks and radio broadcasters, and Goldman Sachs declined to comment. Created in 1939, BMI represents the public performance rights in more than 20 million musical works created and owned by more than 1.3 million songwriters, composers, and music publishers. BMI and ASCAP jointly account for more than 90% of the music licensing market. Reporting by Milana Vinn and Anirban Sen in New York Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Lady Gaga, Taylor Swift, Spokespeople, Goldman Sachs, Milana Vinn, Anirban Sen, Nick Zieminski Organizations: YORK, Inc, BMI, Goldman Sachs, U.S . Justice Department, Justice Department, American Society of Composers, Publishers, Blackstone Inc, ASCAP, Concord Music, Thomson Locations: New York

☆ Taylor Swift is the highest paid female entertainer in the world, earning $92 million in 2022
▼ + stars: | 2023-02-13 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

Taylor Swift is the highest paid female entertainer in the world, earning a cool $92 million in 2022 following the success of her 10th studio album "Midnights," according to a new report from Forbes. To determine the ranking, Forbes considers entertainers' total 2022 pretax earnings, minus fees for representation (managers, lawyers, etc.) While 2022 was a strong year for Swift, her annual earnings were still less than half of what the highest paid entertainers in the world, the progressive rock band Genesis, made last year. Altogether, Genesis earned $230 million in 2022, thanks to a $300 million music rights sale to Concord Music Group in September. There wasn't a single woman on Forbes's list of the top 10 highest paid entertainers in 2022 — the highest paid female entertainer, Reese Witherspoon, ranked 12th for making $115 million in 2021.

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