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The Weeknd aims to secure $1 billion through music-backed financing, according to report

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The Weeknd is looking to raise roughly USD $1 billion in financing backed by his music catalog.

That’s according to Bloomberg, which reported on Saturday (August 23), citing people familiar with the matter as saying that the Canadian singer would pledge his stake in publishing rights and master recordings.

No agreement has been reached as discussions are still ongoing, the report said.

New York-based Lyric Capital Group is reportedly leading the talks, with The Weeknd (aka Abel Tesfaye) already reaching out to other investors to assemble the financing package of up to $1 billion.

The proposed deal structure with Lyric reportedly includes $500 million in senior debt, $250 million in junior debt, and $250 million in equity.

Chord Music Partners currently owns a 50% stake in The Weeknd‘s music publishing rights. Chord operates under a consortium that includes Universal Music Group and Dundee Partners, the investment vehicle of the Hendel family.

Meanwhile, Lyric Capital owns Spirit Music Group, which controls publishing catalogs from artists including Tim McGraw, Jason Aldean, and Ingrid Michaelson. Lyric completed fundraising for its second music royalty fund with approximately $800 million in commitments in 2023.

If a deal materializes, it would be one of the biggest catalog-backed music rights transactions in recent years. Apollo Global Management and Carlyle Group have already made investments in the space in recent years.

Tesfaye previously explored selling a portion of his music rights approximately two years ago with an initial valuation target around $1.3 billion, Bloomberg said, citing one of its sources. Those talks did not result in a transaction.

In July last year, Apollo confirmed that it led a $700 million investment into Sony Music Group. This “capital solution”, says Apollo, is intended to fund “investments in the music industry”. In 2022, Apollo Global Management led what it claimed to be the “largest-ever” asset-backed securities transaction for Concord, when the latter company priced a $1.8 billion bond offering backed by over 1 million music copyrights.

Earlier this year, Bloomberg reported that Carlyle Group is close to completing a $464 million bond sale backed by music rights.

Artists like John Legend and Justin Bieber have capitalized on their catalogs to secure funding. In 2023, Bieber transferred his music rights to Blackstone-backed Hipgnosis Song Management. Hipgnosis then issued $1.47 billion in bonds backed by royalties from multiple artists including Shakira, Journey, and Red Hot Chili Peppers, last year.

The Weeknd, whose real name is Abel Makkonen Tesfaye, has attracted over 111 million monthly listeners on Spotify. In 2023, his track, Blinding Lights, surpassed Ed Sheeran’s Shape of You to become Spotify’s most-streamed track of all time.

The reported financing deal comes months after The Weeknd said he would retire his stage name while continuing to make music.

Music Business Worldwide

Five journalists killed in Israeli airstrike on Gaza hospital

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new video loaded: Five Journalists Among Dead in Israeli Attack on Gaza Hospital

By Ang Li

Two Israeli strikes hit a hospital in southern Gaza on Monday, killing at least five Palestinian journalists, a rescue worker and up to 14 more people, according to local health officials.

Recent episodes in Middle East Crisis

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Helicopter retrieving water crashes while fighting fire in France

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A firefighting helicopter spun out of control and crashed into a pond in northwestern France.

Israel takes control of territory around Mount Hermon despite ongoing negotiations, states Syria.

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Syria says Israel takes some territory around Mount Hermon despite talks

Survivor of mushroom murder recounts lunch’s impact in court

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Tiffanie Turnbull

BBC News, Sydney

Simon Atkinson

BBC News, Melbourne

EPA Ian Wilkinson wearing a dress shirt and a black vestEPA

Ian Wilkinson is the only guest who survived the toxic lunch

Triple-murderer Erin Patterson has stolen “years of love and laughter”, family members of the victims poisoned by her toxic beef Wellington lunch have told a court.

Patterson, 50, was last month found guilty of killing three relatives – and attempting to kill another – with a death cap mushroom-laced meal in July 2023.

In a hearing on Monday, ahead of her sentencing on 8 September, a group of relatives gave emotional statements about the impact of their loved ones’ brutal deaths.

The sole survivor of the lunch, local pastor Ian Wilkinson, said he felt “half alive” without his late wife Heather – but made a powerful offer of forgiveness to the woman who killed her and almost took his life too.

In the days after the meal at Patterson’s home, her former in-laws Don and Gail Patterson, both 70, died in hospital, as well as Gail’s sister, Heather Wilkinson, 66.

Mr Wilkinson became desperately ill, but recovered after weeks of treatment in hospital.

Patterson’s estranged husband Simon Patterson had also been invited to the lunch but pulled out at the last minute. He has accused Patterson of a years-long campaign to poison him too – but three charges of attempted murder relating to him were dropped on the eve of the trial.

One after another, in quick succession, on Monday the court heard a series of victim impact statements which detailed how Erin Patterson’s crimes blew up two close-knit families.

Mr Patterson spoke of his inability to articulate how much he missed his parents. Ruth Dubios – the daughter of Ian and Heather Wilkinson – told the court Patterson had used her parents’ natural kindness against them. Don Patterson’s 100-year-old mother shared her grief at having outlived him.

But it was Ian Wilkinson’s turn in the witness box which floored the courtroom. He has barely said a public word since the fatal lunch, but today he walked into court and confronted the woman who murdered his wife, snuffed out the lives of his two best friends, and left him on the brink of death.

Sitting across from Erin Patterson, Mr Wilkinson opened his statement by tearfully paying tribute to his “beautiful wife”.

“She was compassionate, intelligent, brave, witty – simply a delightful person who loved sharing life with others,” he said.

“If she could help somebody she would.”

“I only feel half alive without her,” he added.

Not only did Patterson rob him of growing old with his wife, and his children of their mother, Mr Wilkinson said, but she also took his two best friends, Don and Gail Patterson.

“They were good and solid people… We encouraged and supported each other for about 50 years. My life is greatly impoverished without them.”

Addressing Patterson directly, he questioned what “foolishness” had led her to think “murder could be the solution to her problems” – especially given the crime was committed against people who bore her only good will.

As the pastor neared the end of his statement, his voice became clearer and stronger as he spoke about his desire for justice, before offering Patterson his forgiveness.

“I bear her no ill will. My prayer for her is that she uses her time in jail wisely to become a better person,” he said, to gasps in the courtroom.

“Now I am no longer Erin Patterson’s victim. She has become the victim of my kindness.”

Family tree showing Erin Patterson, her estranged husband Simon Patterson, their two children, Simon's father Don Patterson, Simon's mother Gail Patterson, Gail's sister Heather Wilkinson, and Heather's husband Ian Wilkinson.

Through a family spokesperson, Simon Patterson also told the court of his grief – which has been compounded by the “abrasive” court process and at-times “deplorable” media maelstrom which followed the crimes.

He noted in particular the distress that the past few years have caused his children, who must now confront a life without their grandparents and their mother – something which caused his estranged wife to draw in a sharp breath.

“Like all of us, they face the daunting challenge of trying to comprehend what she has done,” his statement said.

“The grim reality is they live in an irreparably broken home with a solo parent, when almost everybody knows their mother murdered their grandparents.”

He vowed that he would continue following the example his parents set for him, by drawing on God’s strength and reflecting his love.

“I am faithful, however, they are with God and I will see them again,” he said.

Among the other relatives to have their statements read in court was the sole surviving sister of Gail and Heather, Don Patterson’s brothers, and his nephew who grew up idolising the former school teacher.

“I always wanted to be perpetually young at heart like him,” Tim Patterson said of his uncle. “How could someone like this… leave the earth this way?”

“Years of love and laughter” have been stolen as a result of his relatives’ murders, he added: “[And] the world is poorer for it”.

Prosecutors push for life without parole

Prosecutors concluded the hearing by arguing that Patterson should be sentenced to life in prison, without parole.

Jane Warren told the court Patterson’s actions should be considered “worst category offending” – pointing out the level of planning required, and that if she had come clean about the mushrooms, when asked by authorities, the lives of her victims could potentially have been saved.

Furthermore, the prosecution argued, Patterson spent the days after the lunch disposing of evidence and lying to police.

“It is a crime that is so cruel and so horrific, that in our submission the offender is not deserving of this court’s mercy,” Ms Warren said.

Patterson’s lawyer Colin Mandy agreed nothing but life in prison would be appropriate, but argued that parole should be allowed as his client’s notoriety means she will likely spend a lot of her jail term in isolation.

Justice Christopher Beale will hand down his sentenced in Melbourne on 8 September.

Keurig Dr Pepper’s $18 Billion Merger with Peet’s Coffee Unwinds Hot and Cold Beverage Union from 2018

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Keurig Dr Pepper will buy the owner of Peet’s Coffee in an $18 billion (15.7 billion euro) deal, then break itself in two, with one company selling coffee and the other selling cold beverages like Snapple, Dr Pepper, 7UP and energy drinks.

The agreement anounced Monday will essentially unwind the 2018 merger of Keurig and Dr. Pepper and it arrives at a time when consumers are pulling back and the trade wars under President Donald Trump threaten to send coffee prices soaring.

Trump imposed a 50% tariff this summer on most imports from Brazil — the world’s leading coffee producer — for its investigation of its former president, Jair Bolsonaro, a Trump ally.

Yet Keurig Dr Pepper sees both coffee and cold beverages as areas of growth that would be better navigated by independently operating companies. CEO Tim Cofer called it a “transformational moment” for the sector.

“By creating two sharply focused beverage companies with attractive and tailored growth propositions and capital allocation strategies, we are poised to generate significant shareholder value in both the near and long term,” Cofer write in prepared remarks.

But large chains like Starbucks are suffering. Same-store sales, a key barometer of a retailer’s health, has fallen for six straight quarters at the Seattle coffee giant and its shares have tumbled 23% since early March.

Dr Pepper Keurig is offsetting some declines with higher prices. In its last quarter, the company reported a 0.2% decline in coffee sales.

For Keurig Dr Pepper, the soon-to-be separated coffee business will have about $16 billion in combined sales and the beverage business about $11 billion, the companies said.

The companies expect to save about $400 million over three years because of the merger.

The company that Keurig Dr Peppper is buying, Peet’s parent JDE Peet’s based in Amsterdam, also owns the brands L’OR, Jacobs, Douwe Egberts, Kenco, Pilao, OldTown, Super and Moccona.

Once the two companies are separated, Cofer will become CEO of the cold beverage business, which will be based in Frisco, Texas. Keurig Dr Pepper’s chief financial officer, Sudhanshu Priyadarshi, will lead the coffee business, which will be located in Burlington, Mass. Its international headquarters is in Amsterdam.

Shares of Keurig Dr Pepper slumped 9% before the opening bell Monday.

Introducing the 2025 Fortune Global 500, the definitive ranking of the biggest companies in the world. Explore this year’s list.

Bangladesh makes international appeal for assistance with Rohingya crisis

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Dhaka hopes a conference can provide solutions to the aid crisis facing Rohingya refugees in Bangladesh.

Virginia Tech Welcomes British Junior National Champion Hayden Annan for the 2025-26 Season

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By Anne Lepesant on SwimSwam

Fitter and Faster Swim Camps is the proud sponsor of SwimSwam’s College Recruiting Channel and all commitment news. For many, swimming in college is a lifelong dream that is pursued with dedication and determination. Fitter and Faster is proud to honor these athletes and those who supported them on their journey.

Hayden Annan from Cranbrook, England, will join The Virginia Polytechnic Institute and State University men’s swimming and diving team this fall. Annan, who graduated from Cranbrook School, trains with RTW Monson and represents England internationally.

Annan specializes in mid-distance freestyle. He won the 200 free junior title at the 2025 Aquatics GB Swimming Championships in April, coming to the wall .02 ahead of Jacob Mills in a personal-best time of 1:50.06. He earned a PB in the 100 free (50.71), as well.

He represented Great Britain at the European Junior Championships this summer, placing 18th in prelims of the 200 free (1:50.90) and 42nd in prelims of the 400 free (4:01.82). He also led off the 4×200 free relay (1:51.72).

Last summer, Annan placed 2nd in the 200 free (1:52.33), 2nd in the 400 free (3:59.39), 3rd in the 800 free (8.22.40), 7th in the 1500 free (16:24.25), and 18th in the 200 fly, in the 17 year age category at 2024 British Summer Championships.

Best LCM times:

  • 100 free – 50.71 (43.86)
  • 200 free – 1:50.06 (1:35.34)
  • 400 free – 3:59.39 (4:26.14)
  • 800 free – 8:22.40 (9:22.91)
  • 1500 free – 16:14.74 (15:55.62)

Converted times are approximate and can only serve as an indication of how Annan might do in a short-course pool. That said, for comparison’s sake, it took 42.78/ 1:34.41/ 4:24.33/ 16:03.21 to score in the freestyle events at 2025 ACC Championships.

Annan will suit up with newcomeres Andy Roose, Connor Johnson, Benedek Toth, Clem Camacho, Jack Mainville, Javier Núñez , Lucas Humling, Matthew Cairns, and Tristan Dorville in Blacksburg.

If you have a commitment to report, please send an email with a photo (landscape, or horizontal, looks best) and a quote to Recruits@swimswam.com.

About the Fitter and Faster Swim Tour 

Fitter & Faster Swim Camps feature the most innovative teaching platforms for competitive swimmers of all levels. Camps are produced year-round throughout the USA and Canada. All camps are led by elite swimmers and coaches. Visit fitterandfaster.com to find or request a swim camp near you.

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Read the full story on SwimSwam: Virginia Tech Adds British Junior National Champion Hayden Annan for 2025-26

‘KPop Demon Hunters’ re-released sing-along version dominates US box office, raking in $20 million

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A sing-along version of Netflix’s KPop Demon Hunters scored a box office victory in the US this weekend, earning about $18 million to $20 million in box office takings on Saturday (August 23) and Sunday (August 24).

That’s according to Variety, which reported on Sunday (August 24) that the film outpaced Warner Bros. horror film Weapons in its third weekend of release. Weapons was reportedly expected to claim the weekend title with $15.6 million from 3,631 North American theaters.

The box office turnover of the animated musical was a rare theatrical win for Netflix, which typically avoids wide cinema releases.

The company hasn’t reported official gross sales, but Variety reported, citing “knowledgeable sources” that KPop Demon Hunters played on 1,700 screens across the United States.

Netflix announced on Sunday that Arden Cho, May Hong, Ken Jeong, vocalists REI AMI and Kevin Woo, directors Maggie Kang and Chris Appelhans, and producer Michelle L.M. Wong surprised fans of the film in theaters in New York and Los Angeles over the weekend.

Following the limited theatrical event, which Netflix said “featured more than 1,000 sold-out screenings,” the streamer confirmed that the sing-along version will debut on Netflix today (August 25).

Sony Pictures Animation produced KPop Demon Hunters.

The movie follows fictional K-pop girl group HUNTR/X, whose members secretly moonlight as demon hunters tasked with maintaining a magical barrier that protects humans from the dark underworld. It also features HUNTR/X’s nemeses, bad-boy group Saja Boys.

Since its streaming debut, the movie has become Netflix’s second-most watched English-language film ever and the most-viewed original animated film on the platform of all time.

As MBW previously reported, the KPop Demon Hunters soundtrack, released via Visva/Republic Records, has become the highest-charting soundtrack of 2025, with the album peaking at No. 2 on the all-genre Billboard 200. Seven songs from the soundtrack landed on the Billboard Hot 100.

Last week, HUNTR/X’s Golden added a fifth straight week at No. 1 on both the Billboard Global 200 and Billboard Global Exc. US charts. The fictional K-pop group’s How It’s Done also earned its second Top 5 Global 200 hit.

“For 48 hours, this made-for-television film is playing to sold-out audiences who are singing, dancing, dressing up and losing themselves in the fun. That’s pop entertainment at its best.”

David A. Gross, Franchise Entertainment Research 

Analyst David A. Gross of Franchise Entertainment Research was quoted by Variety as saying: “For 48 hours, this made-for-television film is playing to sold-out audiences who are singing, dancing, dressing up and losing themselves in the fun. That’s pop entertainment at its best.”

“There is no CinemaScore, but audiences, particularly kids, love this movie. That’s why it’s here.”

However, Variety and The Hollywood Reporter noted that AMC Theatres, the world’s dominant cinema chain, refused to participate in playing the re-release of KPop Demon Hunters in cinemas. THR said rival chains Regal and Cinemark, along with Alamo Drafthouse and other cinema operators embraced the opportunity during the slow summer weekend.

Meanwhile, Variety said the overall box office remains 5.1% ahead of last year, although that margin has shrunk from the 25% lead recorded in early June. Summer ticket sales currently stand at $3.5 billion through late August, well short of the $4 billion benchmark that was common before the pandemic, said Variety.

Senior Comscore analyst Paul Dergarabedian told the news outlet: “This is one of the slowest weekends of the year as we head into the final week and a half of the summer. It’s not great news in terms of the summer revenue outlook.”

Music Business Worldwide