Hedge Fund Giant Pershing Square Eyes Stake in Universal Music Group

Chris Willman Music WriterIn a nearly three-hour presentation Wednesday morning, Pershing Square Capital founder Bill Ackman made his love for the music business — and the reasons for setting his sights on Universal Music Group — clear, saying, “I can’t think of an asset I’m more confident in being consumed over time.

UPDATED: Alamo Records, the label imprint run by industry veteran Todd Moscowitz, is leaving its joint venture partnership at Universal Music Group for Sony Music Entertainment.SME today announced that it has acquired a majority stake in Alamo, which is home to such acts as Rod Wave, Blackbear and Lil Mosey. Moscowitz, a former top executive at Warner Bros.

The deal comes as Vivendi is still moving forward on plans for an IPO of the music label by late September. 20% of the label, whose signed artists include Rihanna and Lady Gaga, has already been sold to Chinese conglomerate Tencent, and the label has also been valued at $40 billion.

French media giant Vivendi has reached a deal to sell a 10% stake in Universal Music Group to hedge fund billionaire Bill Ackman’s Pershing Square in a deal that values the music company at more than $42 billion.

Ellise Shafer administratorVivendi has reached a deal with Bill Ackman’s Pershing Square to sell a 10% stake in Universal Music Group, a transaction that values the world’s largest music company at $40 billion.Vivendi said Sunday that the agreement would be finalized no later than Sept. 15.

Elsa Keslassy International CorrespondentUniversal Music France and Mediawan’s Method Animation (“The Little Prince,” “Miraculous”) are joining forces on “Jam,” a animated music anthology which will showcase the greatest talents in both music and animation.Co-developed with Universal Music France’s original contents department, the 15-part series will be directed by Michael Gracey, the revered helmer of “The Greatest Showman,” and is being created by Method Animation’s roster of talent,

The Jesus and Mary Chain are suing Warner Music Group for copyright infringement, with the band seeking $2.5million (£1,771,825) in damages.The lawsuit, filed in a California federal court, was brought by bandleaders Jim and William Reid.

Ellise Shafer administratorLeading digital art brand Ikonick is teaming up with Bravado, Universal Music Group’s global merchandising and brand management company, to produce, market and distribute canvas art and NFTs across their extensive roster of artists.NFTs, or non-fungible tokens, have become all the rage in the music industry in recent months.

Chris Willman Music WriterAfter he initially announced plans to release his debut album independently, singer-songwriter Sam Williams has signed with Universal Music Group Nashville, the company is announcing today. The 24-year-old son of country icon Hank Williams Jr.

Jon Burlingame With today’s release of Ludovico Einaudi’s “Cinema,” Universal Music Group confirms its status as one of the world’s most soundtrack-friendly music companies.Music by Einaudi, the Italian composer and pianist, was featured in recent Oscar winners “Nomadland” and”The Father.” “Cinema” collects 28 pieces featured in those films and such earlier projects as “The Water Diviner,” “The Intouchables” and the miniseries “Doctor Zhivago.”Each of the last seven Academy Award winners for

Taylor Swift, Billie Eilish, Lady Gaga, as well as the Beatles.

French media giant Vivendi has confirmed it is in talks to sell a 10% stake in Universal Music Group to hedge fund billionaire Bill Ackman’s Pershing Square Tontine Holdings in a deal that values the music company at €35 billion ($42B).

Elsa Keslassy International CorrespondentVivendi has entered into discussions with Pershing Square Tontine Holdings, Ltd. (PSTH), to sell 10% of Universal Music Group’s (UMG BV) share capital ahead of its planned IPO.

Ed Meza @edmezavarVienna-based sales company Square Eyes has acquired Tomasz Wolski’s Polish animated documentary “1970,” which picked up the Special Jury Award at this year’s Swiss doc fest Visions du Réel.The stop-motion animated pic, which is screening at the Krakow Film Festival, chronicles the increasingly violent efforts by Poland’s communist leaders to end widespread demonstrations over rising prices of food and other everyday items.Square Eyes also recently added Chloé Galibert-Laîné

Roy Trakin Veteran label exec, S-Curve Records founder and noted pop historian Steve Greenberg will re-launch the label, which recently celebrated its 20th anniversary, at Disney Music Group. Andy Grammer is the first artist under the new partnership and will release a new single, “Lease On Life,” on June 28.Said Greenberg: “We’re absolutely thrilled to launch this new chapter of the S-Curve.

A major hedge fund with a reputation for aggressive cost cutting got the greenlight on Friday to acquire Tribune Publishing, the owner of big city dailies such as The Chicago Tribune, The Baltimore Sun, the Orlando Sentinel and The New York Daily News.