UPDATED:
>>> Retail giant Trans World reported another down quarter.
>>> Fast growing music-centric social networking site BuzzNet has grabbed $8 million in venture funding led by Redpoint and Anthem venture funds.
>>>Indie Wind-Up has expanded mobile based its Featured Artist Program with Nokia.
>>> CD Baby has partnered with voeveo for mobile distribution
>>> Former EMI CEO Jim Fifield stated publicly yesterday that he still wants to buy EMI despite a partner Corvus Capital pulling out. Fifield has been trying to buy his former employer on and off for more than
five years. Other equity firms are also rumored to still be eying a higher bid than the EMI
board tentatively accepted last week.
>>> The NY Post says that former CAA and Disney exec Michael Ovitz had been tapped to helm EMI if another bid by JP Morgan had been successful. Ovitz's plan was reportedly to turn EMI into more of a talent management and marketing firm with more deals similar to the Korn and Robbie Williams all-inclusive partnerships.
>>>
In a lawsuit that could have ramifications throughout the industry bluegrass legend and former
Jerry Garcia collaborator David Grisman and his manager label partner Craig Miller are suing Universal and WMG claiming that the companies " made unauthorized copies" when it put the act on digital services like iTunes without permission and are "grossly" underpaying the artist. Many older record contracts did not anticipate the digital age yet most labels did not renegotiate with these artists before putting their works out digitally.
>>> A new study says that the music store industry includes about 4,000 stores with combined annual revenue of about $4 billion dominated by FYE, Musicland and Wherehouse. The sector is highly concentrated with the top 50 companies booking 80% of total industry revenue.
