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AM News Brief: WMG Stock Jumps, YouTube Live DigiTour, Spotify Malware, Vibe, Music Allies & More

Hypebot Favicon We publish a roundup of music business news each weekday morning, and when warranted add an update late in the afternoon. For breaking news also follow @hypebot on Twitter.

  • WMG stock was up 13.25% to $6.58 at the close of trading Tuesday on rumors that Bertelsmann is eyeing both Warner Music and EMI publishing arms. The German media group has access to a €1bn+ war chest. (Guardian)
  • YouTube is the official sponsor of the 27 city DigiTour which features viral acts like The Gregory Brothers (Auto-Tune the News and The Bed Intruder Song) and Mystery Guitar Man.
  • As we reported last Friday, Spotify pulled all its ads after becoming the latest high profile inadvertent malware distributor. (TechCrunch)

MORE NEWS:

  • Vibe Magazine launches its first international issue.
  • Spin takes a different approach to their new magazine iPad app. (NY Times)
  • Former Sugar Hill Records exec Molly Nagel has joins music marketing and strategy specialist Music Allies as General Manager. 
  • Universal Republic Record and Twenty First Artists Team Up For Producer/Engineer Management Firm.
  • In what is sure to be a blow to some idie labels, Teen retail chain Hot Topic's ShockHound.com website which sells music and merch is shutting down. (Bloomberg)
  • Patrice Wilson of Ark Music: 'Friday' is on his mind. (LATimes)
  • Three reasons why MySpace is doomed. (Yahoo)
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