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Universal Music Group

BUSINESS
January 5, 2006 | From Bloomberg News
Universal Music Group and Warner Music Group Corp. gained market share in the U.S. last year as their newly formed rival Sony BMG Entertainment lost ground. Universal Music, owned by Vivendi Universal, strengthened its No. 1 position with 31.7% of total albums sold last year, compared with 29.6% in 2004, Nielsen SoundScan said. Sony BMG, a joint venture of Sony Corp. and Bertelsmann, fell to 25.1% from 28.5%. Warner Music, run by Edgar Bronfman Jr., increased its share to 15% from 14.7%.
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BUSINESS
October 31, 2006 | From Reuters
Universal Music Group is slashing European download prices for 1,500 older albums starting Wednesday, the first broad online cost-cutting move by a major music firm. The prices ultimately charged consumers would be determined by individual online retailers, Universal said. The albums are expected to sell for about 6.99 euros ($8.89) and 5.49 pounds ($10.43), reduced from 9.99 euros and 7.99 pounds, respectively. Download pricing of singles will not be affected.
BUSINESS
September 15, 2009 | Times Wire Services
A federal judge in Los Angeles has ruled against Universal Music Group in a copyright suit against video website operator Veoh Networks Inc. U.S. District Judge Howard Matz dismissed the 2007 suit in which Universal accused Veoh of supporting and inducing copyright infringement. He ruled that Veoh was taking reasonable steps to prevent and take down infringing videos. Veoh founder Dmitry Shapiro called the decision "a great victory." Universal, a unit of France's Vivendi, said it would appeal.
BUSINESS
November 23, 1999 | CHUCK PHILIPS
Seagram Co.'s Universal Music Group has invested an undisclosed amount of money in Miami-based Eritmo.com, a Latin music Web site that features news, fan club information, chat rooms and Webcasts of Latin music concerts, reviews and videos. The site, which allows fans to sample snippets of singles and albums, plans to create an extensive online digital library and to expand its e-commerce and international operations in the months ahead.
BUSINESS
April 29, 2003 | Joseph Menn and Chuck Philips
Apple Computer Inc.'s new online music service allows people to transfer songs to as many as three computers and an unlimited number of iPod music players. All five major record labels are supplying content to the service, which offers free 30-second samples and purchases with a click of the mouse. What it doesn't do is help the overwhelming majority of personal computer users who rely on Microsoft Corp.'s Windows operating system.
BUSINESS
June 30, 2003 | Chuck Philips, Times Staff Writer
Who is the real Irv "Gotti" Lorenzo? To federal investigators, he is pure trouble. They contend that Lorenzo opened the door of his legitimate business -- the Vivendi Universal-funded Murder Inc. record label -- to a convicted street criminal, Kenneth "Supreme" McGriff. McGriff, they say, used the company to launder cash from illegal drug sales. Lorenzo, in his first public discussion of those claims, tells a much different story. He describes himself as a loyal friend who did nothing worse than help the financially strapped ex-con go straight, and fulfill a dream, by producing a low-budget action film called "Crime Partners."
BUSINESS
May 22, 1998 | MARLA MATZER, SPECIAL TO THE TIMES
As Seagram Co. agreed to acquire PolyGram, PolyGram Chief Executive Alain Levy's fate remains a question--one that Seagram President and Chief Executive Edgar Bronfman Jr. declined to address head-on at a news conference Thursday. "We're not going to comment on any individual [executive], no matter how senior or how impressive," Bronfman said when asked what Levy's role in the combined firm would be.
BUSINESS
April 24, 2004 | Jeff Leeds
Universal Music Group is expected to name Steve Bartels president of its Island Records unit, sources said. Bartels, formerly head of promotion at rival Bertelsmann's Arista Records label, will report to his onetime boss, Antonio "L.A." Reid. The move comes amid a rapid-fire shuffle in the top jobs at the music labels. Reid took the reins at Universal's Island Def Jam complex just weeks after being fired from his job as chief executive of Arista.
BUSINESS
March 23, 2004 | Jeff Leeds
Warner Music Group is recruiting music executive Julie Greenwald for a top post in its emerging East Coast label structure, sources said. The move would mark the second time new Warner Music Chairman Edgar Bronfman Jr. has snatched a top executive from rival Universal Music Group, the conglomerate he had helped build. Bronfman had already hired Lyor Cohen, former head of Universal's Island Def Jam label, as Warner's domestic chief.
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