NEWS BRIEF: New Yahoo CEO, Beyond Oblivion ‘Only’ Lost $25M, Sugar Hill Gang Sues UMG & Much More

Yahoo names PayPal's Thompson as new CEO. (CNet)

• A $55 Million Silver Lining for Beyond Oblivion’s Backers (AllThingsD) Turns out the only lost about $25 million before going under.
• Members of the pioneering hip-hop group The Sugar Hill Gang and other bands claim Universal Music Group has refused to pay them royalties since 1995. (CHN)
• Next Big Sound Raises $6.5 Million For Music Analytics.

MORE:

• Bandcamp Rings Up $1 Million In December Sales. New Stats Prove Direct-To Fan's Potential.
• YANGAROO partners with INgrooves to offer label partners secure digital delivery of music and video to radio, TV, press and other promotional outlets.
• File-Sharing Recognized as Official Religion in Sweden (TorrentFreak)
• Lupe Fiasco Facing Label Issues AGAIN?! (AllHipHop)
• Norway's Lars Kilevold and David Gjester have launched Indigoboom, a platform for unsigned artists to make money in the digital marketplace. It is operated in partnership with Phonofile, the largest aggregator for digital music in the Nordic region.  Indigoboom covers well over 100 stores under the contract these have with Phonofile. “We already serve over a hundred American artists,” says Gjester.