Archives for posts with tag: purchase

Spotify easter eggs

Apple’s acquisition of Beats has some major record labels thinking of making some moves as well.

Digital Music News is reporting that several major labels including Warner Music Group, Sony Music Entertainment, and Universal Music Group are mulling a possible purchase of a Spotify acquisition.

Several sources inside and outside of the major label system who have agreed to speak with Digital Music News say the Beats sale is ‘simply small potatoes’ compared to the prize that Spotify could represent.

One source pointed to Spotify as a very, very juicy prize, with one target sale price pushing past $10 billion (you know, WhatsApp money).

A label attorney, speaking on the condition of anonymity, pointed to massive telecommunications and mobile companies as targeted buyers. “The Verizons, the NTT DoCoMos, the Oranges, that group,” the source noted. “Spotify is a nice package for customers.”

Read more about the possible dealings here 


Apple made it official today. After weeks of speculation, Apple has purchased Beats from Dr. Dre and Jimmy Iovine for a whopping $3 billion dollars.

In Beats, Apple is getting a music-streaming service, high-end headphones and music-industry connections. Beats’ co-founders, rap star Dr. Dre and music mogul Jimmy Iovine, will join Apple.

Apple will continue to use the Beats brand, a rare move for a company that has almost always focused on its Apple brand.

Source: WSJ



Historic Morris Brown College in Atlanta might have a new buyer soon.

According to the AJC, the city of Atlanta is prepared to make an offer to purchase Morris Brown’s property.

The city  has made an offer to purchase the Morris Brown College campus.  The $12.6 million offer, made in conjunction with Friendship Baptist Church, proposes giving a portion of the 37-acre property to the church and allows Morris Brown to retain its historic buildings. The college filed for bankruptcy in 2012.

Invest Atlanta managing director Eloisa Klementich said under the proposal, Atlanta will spend $9 million on the property. Friendship Baptist, one of two churches that sold to make way for the new Atlanta Falcons stadium, will contribute $3.6 million. Invest Atlanta is the city’s economic development agency.

If the offer is accepted, Atlanta would take control of such amenities as the college’s stadium, officials said.

Klementich said the city has myriad reasons for pursuing the property, including helping to redevelop the nearby communities and the Martin Luther King Jr. Drive corridor. The deal would also allow Morris Brown to continue offering educational programs.

“It’s an opportunity to make sure there’s a comprehensive and cohesive strategy around what’s happening in this very important part of town, making sure we’re supporting jobs and economic development as much as we can,” she said. “That’s the vision for us at this point.”
Bids to purchase the college, which faces about $30 million in debt, were due Wednesday. Morris Brown, located near the future Falcons stadium near Northside and Martin Luther King Jr. Drives, hired brokerage firm Jones Lang LaSalle to market the property.

Those officials, in conjunction with the African Methodist Episcopal Church, which has loaned the college millions to pay its debts, and Clark Atlanta University, which has a claim on a 17 acres of the property, will review the bids. Mayor Kasim Reed said in a statement Thursday that partnering with Friendship allows both parties a “critical stake” in the revitalization of the area.

“If we succeed in this bid, it will bring much-needed stability and cohesiveness to these communities as we embark on a determined effort to spur job creation, civic engagement and business investment to the historic neighborhoods of Vine City and English Avenue,” Reed’s statement read.

Atlanta officials are playing an active role in the construction of the future $1.3 billion Atlanta Falcons stadium, including issuing $200 million in bonds backed by hotel-motel taxes for stadium construction. The stadium is within walking distance of the Morris Brown campus.

The college hopes to move fast on its future as the procedures requested any interested bidders to be able to finalize the deal by May 31, pending court approval.

Morris Brown president Stanley Pritchett could not be reached for comment Thursday.

Source: AJC


Comcast Corp. has agreed to buy Time Warner Cable TWC for $45 billion in stock, a deal that would combine the nation’s two biggest cable operators, according to people familiar with the situation.

The boards of both companies have approved the deal, which will be announced Thursday morning, one of the people said.

With the proposed deal, Comcast almost certainly ends an eight month takeover battle for TWC waged by fourth-biggest cable operator Charter Communications Inc. CHTR -0.24%and its biggest shareholder, Liberty Media Corp. LMCA +0.87% , whose chairman is cable pioneer John Malone.

By negotiating the merger, Comcast Chief Executive Brian Roberts ensures his dominance of the U.S. cable industry will be maintained. But the transaction would face lengthy regulatory review.

Charter’s pursuit of TWC, which began after Liberty bought a 27% stake in Charter about a year ago, had raised the possibility that Mr. Malone would emerge as a rival to Mr. Roberts. Mr. Malone once led the U.S. cable industry but sold his previous cable firm, Tele-Communications Inc. in 1999.

Source: WSJ



City officials have reached a $19.5 million deal on behalf of the Atlanta Falcons to buy Friendship Baptist Church, one of two churches key to construction of the new Falcons stadium on the preferred “south site,” Mayor Kasim Reed said Tuesday.

The church must ratify the agreement with its congregation, said Reed, who then urged the Georgia World Congress Center to re-open talks with Mount Vernon Baptist Church.

His announcement comes days after the GWCCA said it walked away from negotiations with Mount Vernon after the church rejected a $6.2 million offer. Documents later revealed the state and the church were $14 million apart in asking price.

“I think I’ve done enough in this process to ask that they try harder. Because that’s what folks ask me to do, right?” Reed said.

Mount Vernon is arguably the more crucial piece to the south site location as it sits on the proposed property. Reed has long been a proponent of the south location off Northside and Martin Luther King drives, due to its proximity to two MARTA stations.

Reed did not say whether the city has identified private funds, such as additional dollars from Falcons owner Arthur Blank, that could help secure Mount Vernon. But he said he’s asked former mayor Ambassador Andrew Young to mediate talks between the church and state officials should they resume.

A spirited Reed also said he has long been a supporter of a new stadium despite public sentiment and has suffered political consequences for it, noting he has “taken as many scars and hits and bruises as anybody in this stadium process.”

He said Tuesday the Falcons should support his efforts for the stadium to be built on the south location, but stopped short of calling on them to fund any portion of the Mount Vernon deal.

“For two years my commitment to the Falcons organization has been unwavering,” he said. “I believe in mutual respect.”

The mayor suggested the city has leverage in securing the south site, noting the $30 million stadium community benefits plan must be approved by himself and the Atlanta City Council before any bonds will be issued for stadium construction…

Source: Atlanta Black Star