A substantial portion of CD Baby's parent company AVL Digital Group is now being sold by Corinthian Capital, according to information tipped early this morning to Digital Music News. The AVL umbrella also includes Discmakers and HostBaby, among other properties, with Stephens Capital Partners the buyer. More details ahead.
And the 'American Idol' gravy train continues to lumber along, but how many stops remain? Despite a flaring fued between Nicki Minaj and Mariah Carey, Wednesday's debut dropped 19 percent to 17.9 million viewers. Then again, the series is (remarkably) entering its twelfth season.
Impressive edifices are the stuff of empires, but empires have a way of becoming cash-strapped. Which is why Sony Corp. of America is now selling its iconic, 550 Madison Avenue digs for north of $1.1 billion, with Chetrit Group leading the investor buying group. All of which makes Sony Music Entertainment a sudden tenant, with a multi-year lease apparently afoot.
And speaking of empires, how long can the entrenched kingdom known as Ticketmaster fend off the disruptive barbarians? Ticketmaster has enviable legacy relationships, but it's now surrounded by well-financed, ultra-disruptive competitors, including Ticketfly. And on the heels of a robust, $22 million round, Ticketfly is now jabbing aggressively into Canada with Ticketmaster a prime target. The arrival includes a partnership with independent promoter Union Events, and the acquisition of Prime Box Office, a ticketing company based in Calgary.
Amazon MP3 Mobile has now been optimized for iOS devices like the iPhone and iPad mini. This is a play geared towards Safari via HTML5.
And in shuffles, The Orchard has just tapped Naomi Moran as General Manager of UK and Europe, reporting into US-based COO Colleen Theis. Elsewhere, Elizabeth Sobol has been named President and CEO of Decca Label Group, USA.