This week, the European Commission paused its investigation into Universal Music Group‘s proposed $775 million acquisition of Downtown Music Holdings while awaiting requested information.
Meanwhile, JYP Entertainment revealed its ambitious plans to create an “unprecedented” virtual K-pop artist, hiring AI and Unreal Engine experts for the project.
Elsewhere, Cutting Edge Group continued its expansion, acquiring AMC Studios’ entire TV music catalog including compositions from hit series The Walking Dead.
Also this week, Warner Music Group revealed a big change to the company’s UK operations, aligning its Atlantic and Warner Records UK labels with US leadership to provide “more firepower” for British artists.
Here are some of the biggest headlines from the past few days…
1. EU PAUSES PROBE INTO UNIVERSAL’S $775M DOWNTOWN DEAL
The European Commission has temporarily suspended its investigation into Universal Music Group’s proposed $775 million acquisition of Downtown Music Holdings while awaiting requested information.
The pause comes during the EC’s in-depth Phase 2 investigation, which began in July following initial concerns that the transaction could reduce competition in the wholesale market for recorded music distribution in the European Economic Area.
“We look forward to continuing to work constructively with the Commission to convey the benefits this transaction will bring to the independent music community in Europe,” a UMG spokesperson told MBW on Thursday.
”This deal is about offering independent music makers access to world-class tools and support to help them succeed. We are confident that the Commission will recognize the benefits of the transaction for artists, labels, and independent music in Europe, and clear the transaction.” (MBW)
2. JYP ENTERTAINMENT IS HIRING FOR AI AND UNREAL ENGINE EXPERTS TO DEVELOP AN ‘UNPRECEDENTED’ VIRTUAL K-POP ARTIST
Seoul-based JYP Entertainment is recruiting specialists in artificial intelligence, motion graphics, and Unreal Engine to develop what it calls an “unprecedented” AI artist through its tech business unit Blue Garage.
Job listings on the company’s website reveal multiple openings, from Creative Production and Product Design executives to LLM Engineers, 3D Art Directors, Character Interaction Engineers, and Character Modelers.
JYP’s virtual artist ambitions coincide with the global success of its flagship group Stray Kids, whose latest album KARMA debuted at No.1 on the Billboard 200, making them the first act to have their first seven Billboard 200 entries debut at the top spot.
JYP stated its goal is to answer whether “AI can become a being that calls fans’ names and interacts with them,” with Blue Garage Co-CEO Jeong Min-jong describing it as “the first attempt to recreate the essence of entertainment through AI”... (MBW)
3. CUTTING EDGE ACQUIRES AMC STUDIOS’ FULL CATALOG OF TV MUSIC RIGHTS, INCLUDING COMPOSITIONS FROM HIT SERIES ‘THE WALKING DEAD’
UK-born Cutting Edge Group has acquired both publishing and master rights to AMC Studios’ entire TV music library for an undisclosed amount, adding compositions from The Walking Dead franchise and Anne Rice adaptations to its portfolio.
The compositions and recordings join CEG’s portfolio of over 400,000 owned and managed media music rights, valued at more than $1 billion.
Led by CEO Philip Moross, the company completed a $500 million debt refinancing in April 2024 and identified a “circa $1.5 billion pipeline” of potential investments… (MBW)
4. WMG PROMISES ‘MORE FIREPOWER’ FOR BRITISH ARTISTS AS ATLANTIC AND WARNER RECORDS UK LABELS ALIGN WITH US LEADERSHIP
Warner Music Group announced on Tuesday (September 3) that its flagship Atlantic and Warner Records labels in the UK and US will “collaborate more closely” across A&R and marketing to give artists from both countries greater global impact.
In this new framework, Ed Howard and Briony Turner, the Co-Presidents of Atlantic UK, will join the global leadership team of Atlantic Music Group (AMG) and report to AMG CEO Elliot Grainge.
Joe Kentish, President of Warner Records and Parlophone Label Group in the UK, will join Warner Records’ global leadership team and report to Warner Records Group Chairman & CEO Aaron Bay-Schuck and Chairman & COO Tom Corson.
The changes follow the announced departure of Warner Music UK CEO Tony Harlow, who will step down in October after almost six years in the role… (MBW)
5. ARRIVAL ARTISTS AND ATC LIVE MERGE TO CREATE GLOBAL BOOKING AGENCY ROAM
North American booking agency Arrival Artists and UK-based ATC Live have merged to form ROAM, an independent agency representing over 800 artists with more than 80 employees across London, New York, Los Angeles, Chicago, Paris, and Glasgow.
The companies described the merger as establishing ROAM as the “fifth largest” independent booking agency globally, though financial terms were not disclosed.
The combined roster includes major acts such as The Lumineers, Japanese Breakfast, Sufjan Stevens, Mac DeMarco, Big Thief, Black Pumas, Fontaines D.C., Jungle, Khruangbin, Nick Cave & The Bad Seeds, and PJ Harvey.
ROAM’s clients collectively perform over 10,000 shows annually at venues including Madison Square Garden, O2 Arena, and Hollywood Bowl, while appearing at festivals like Glastonbury, Coachella, and Primavera… (MBW)
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