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SoundCloud May Have New Equity Deals, YouTube Red Merging with Google Play, SESAC Strikes U.S. Radio Deal

Posted by Glen Sears | July 31, 2017 9:25 am | No Comments

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SoundCloud Nears Deal To Sell Majority Stake To Private Equity Firms. A pair of private equity firms are reportedly close to each taking a separate stake in the unprofitable music streamer that would collectively mean the acquisition of a majority of the company.

YouTube Red And Google Play Music To Merge, Says Lyor Cohen. Cohen didn’t talk timescale or details, but Google has issued its own statement to The Verge confirming that the plans are afoot, following its decision to combine the two services’ teams in February this year.

SESAC Strikes Landmark US Radio Deal. The private US-based licensing organization has reached a new deal with the Radio Music License Committee, which the PRO claims will result in substantially larger rates for its clients that ASCAP’s equivalent agreement.

Pandora Shuts Down In Australia And New Zealand After 5 Years. “We’re honored to have connected so many listeners with the music they love these past few years. Thank you for your loyalty and the opportunity to serve you.”

Facebook Takes Another Big Step Towards The Music Biz With Source3 Buyout. The move is being looked on in many quarters as evidence that Facebook wants to shore up the ability of its Rights Manager platform in order to catch copyright infringing videos on its platform.

ASCAP, BMI Are Building A Joint Song Database. The database, which will be publicly available initially via ASCAP’s and BMI’s websites, will feature aggregated information from both repertories.

ASCAP-BMI Song Database Plan Rollout Questioned. Some industry executives said the nearly two-year-long effort to create a single database is a step in the right direction, but others are disappointed that it omits key data and for now excludes SESAC and Global Music Rights.

PBS CEO Warns Federal Cuts Will Mean ‘A Number’ of Stations Will Shut Down. Many of those stations are in rural and underserved areas, she said, with residents who either don’t have access to cable or satellite or can’t afford it and who rely on over-the-air broadcasting.

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