Hints and tips:
...Elliott Management, the most fearsome activist in the world, launched a private equity buyout vehicle called Evergreen Coast, though it has since retired that name....
...Private equity giant Apollo Global Management has led an acquisition of the songbook of Luis Fonsi, the artist behind the smash hit Despacito — Wall Street’s latest pursuit of music copyrights as a machine...
...In 2017, Citrix sold its GoTo service business to LogMeIn, a business that was taken over by Elliott’s Evergreen Coast arm and buyout firm Francisco Partners for $4.3bn in August 2020....
...Its current private equity owners, Veritas Capital and Evergreen Coast Capital, are selling after they took the company private for $5.7bn in 2019, merged it with assets from GE Healthcare, cut costs and...
...The activist hedge fund participated in the Veritas buyout through its Evergreen Coast Capital private equity arm....
...Paul Singer’s Elliott has been on a buying spree since Jesse Cohn, the fund’s US head of equity activism, set up Evergreen in 2015....
...before the Cox acquisition”....
...For both Siris and Veritas, Elliott Management’s private equity arm Evergreen Coast Capital was critical to clinch their largest deals....
...“What an incredible sum of money for a company that didn’t have a lot in terms of [copyrights]. I can’t point to anything [Songs] had other than The Weeknd.”...
...YouTube has been criticised by artists and music companies who argue it is exploiting copyright law to pay below market rates for content....
...She said this “promoted piracy, resulting in widespread copyright infringement, turning users into accidental pirates”....
...The biggest uncertainty is an impending decision by the US Copyright Review Board on licensing rates for the next five years....
...It has what it calls an evergreen structure, meaning it is not bound to invest over five years and then “harvest” its investments over the following five....
...Mr Wahlforss declined to comment on which companies had approached it regarding acquisitions....
...Twitter’s plans to acquire Soundcloud were abandoned after internal disagreements over the profitability of audio advertising and concerns over copyright problems....
...In April, he said that Apple had made 24 acquisitions in the last 18 months....
...Copyright © 2014. All rights reserved....
...BMG now manages a mix of songwriters’ copyright and artists’ performing rights – over 1m songs, including “evergreens” from Duran Duran to Johnny Cash – which are meant to provide the company and its clients...
...Zhang Fan, an online video expert with Analysys, said: “The deal will hugely reduce the copyright cost pressure for them.”...
...“With the acquisition of Bug Music and its vast collection of evergreen and contemporary compositions, BMG further establishes itself as a leading music rights management company,” said Hartwig Masuch, BMG...
...Microsoft ’s $8.5bn acquisition of Skype was the big deal news of the week, and left shares in the technology group down 3.3 per cent to $25.03 over the five days....
...The mantra remains the company’s central tenet and Southwestern even owns the formula’s copyright. The goal, Mr Korell says, is to achieve $1.30 in present value for every $1 Southwestern invests....
...It said this was in a letter brought by a lawyer signed by representatives of a consortium of Singapore Airlines and the private equity companies Evergreen LLC and THL Transportation Equities Fund....
...They will want to know whether Experian, which typically spends about $600m to $700m on deals, will step up the pace of acquisitions in the current year....
...The action followed a break-down in negotiations between Viacom and YouTube to license video content that was being widely watched without copyright permission on YouTube....
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