Legal and Management
Live Nation Gets Financial Breathing Room With Changes to Credit Agreement
Live Nation has secured financial breathing room by securing favorable changes to its debt covenants ahead of its second-quarter earnings release on Aug. 5. Although covenants are standard requirements meant to protect the lender from a default, and manageable under normal circumstances, they can be impossible to achieve when a pandemic has crippled many types of businesses, especially live entertainment. The latest example of music companies shoring up debt and credit to weather COVID-19, Live Nation’s covenant revisions provide “additional financial flexibility,” CEO Michael Rapino said in a July 31 press release. That’s an understatement. The new covenants represent pandemic-era mathematical formulas that are critical for a company greatly affected by government safety measures. Music v...
President Trump Says He Will Ban TikTok From U.S.
The president made the remark on Air Force One on Friday evening. President Donald Trump said he will take action as soon as Saturday (Aug. 1) to ban TikTok, a popular Chinese-owned video app that has been a source of national security and censorship concerns. Trump’s comments came after published reports that the administration is planning to order China’s ByteDance to sell TikTok. There were also reports Friday that software giant Microsoft is in talks to buy the app. “As far as TikTok is concerned, we’re banning them from the United States,” Trump told reporters Friday on Air Force One as he returned from Florida. Trump said he could use emergency economic powers or an executive order to enforce the action, insisting, “I have that authority.” Reports by Bloomberg News and the Wall...
Executive Turntable: TalentX Founder Named Triller Chief Strategy Officer, Radio Promo Vets Launch New Company
Social media star, entrepreneur and TalentX Entertainment co-founder Josh Richards has been named chief strategy officer at AI-driven music video and entertainment platform Triller, which he also invested in. In his new role, Richards will lead strategy at Triller while also overseeing the company’s implementation of live streaming and monetization tools. Triller, a rival to the wildly popular video-sharing platform TikTok, last year raised $28 million in a funding round led by Proxima Media last year, also drawing investors including Snoop Dogg and Lil Wayne. In June, the platform — which currently has music licensing partnerships with Warner, Sony Music and UMG — hit 50 million monthly active users. “After seeing the US and other countries’ governments’ concerns over Tik...
Ashley Judd’s Sexual Harassment Claim Against Harvey Weinstein Revived by Appeals Court
Harvey Weinstein will have to face a sexual harassment claim from Ashley Judd even though the actress was never actually employed by the disgraced movie mogul. On Wednesday, the Ninth Circuit Court of Appeals decided that California Civil Code § 51.9 encompassed their relationship sufficiently to provide Judd with the ability to sue him for sexual harassment. Judd alleges in her complaint that she became Weinstein’s victim when the movie mogul made demands on her in a hotel room about 20 years ago. Judd says that she only escaped after relenting to a deal where she would let him touch her if she won an Academy Award. Later, Judd says she was in serious discussions for a big role in Peter Jackson’s Lord of the Rings, but that opportunity was torpedoed after Weinstein or someone ...
Amazon CEO Jeff Bezos Grilled at Big Tech Hearing About Being Unfair to Streamers
Amazon CEO Jeff Bezos might be the richest person in the world, but he’s also a rookie. Until Wednesday, he had never before been grilled by lawmakers on Capitol Hill. That changed today when top executives at the nation’s leading technology companies gathered — at least virtually — for testimony before a House of Representatives antitrust subcommittee. There, Bezos faced blistering questions about whether the e-commerce giant has abused its market power. “A lot of people want to know when the HBO Max app will be available on your Fire devices,” Congressman Jamie Raskin (D-MD) told Bezos. “I understand negotiations are ongoing but your company is not only asking for financial terms but also for content from Warner Media…. Is it fair to use your gatekeepe...
DOJ Workshop on ASCAP & BMI Consent Decrees Lays Out Key Issues With Heavy-Hitter Speakers
Pharrell Williams, LeAnn Rimes, top executives from the performing rights organizations and other leading trade groups all spoke at Tuesday’s session. At the top of Tuesday’s (July 28) Department of Justice public workshop regarding the federal consent decrees that govern ASCAP and BMI, assistant attorney general for the antitrust division Makan Delrahim laid out the main focus for the two-day hearings and panel discussions: competition. Or more specifically, as he put it, “Competition for the benefit of the American consumer, competition for the benefit of innovation and competition for the benefit of songwriters, composers and artists.” That set the tone for four hours’ worth of discussion on the potential review, which was undertaken by the DOJ as part of i...
Johnny Depp’s Reps Says Amber Heard Lied as Libel Case Concludes
Johnny Depp’s high-stakes libel case against a British tabloid that accused him of assaulting ex-wife Amber Heard wrapped up Tuesday (July 28) in a London court, with the star’s lawyer calling Heard “a compulsive liar” and claiming that Depp was the real victim of abuse in the relationship. The Pirates of the Caribbean star is suing News Group Newspapers, publisher of The Sun, and the newspaper’s executive editor, Dan Wootton, at the High Court in London over an April 2018 article that called him a “wife-beater.” In closing arguments at the three-week trial, Depp’s lawyer, David Sherborne, said the actor strongly denied “this reputation-destroying, career-ending allegation.” “He has never hit a woman in his entire life — period, full stop, nada,” Sherborne said. What Is The Judge Deci...
Nashville Restrictions on Home Recording Studio Overturned
The controversial ordinance was first enacted in 1998. Home recording studios in Nashville can open for business once again. A longstanding law restricting client visits to home-based businesses in Nashville has been eliminated by the city’s Metro Council in a new bill, allowing home recording studios to legally operate in the city for the first time since 1998. Enacted on July 8, the amended ordinance now permits up to six customer visits per day between the hours of 8 a.m. and 7 p.m. Monday through Saturday. To qualify under the new regulations, recording studios and other businesses that host customers on site and/or employ those who live outside the dwelling must first apply for a “home occupation” permit that requires proof of written notifications to owners of adjacent properties, as...
A 79-Year-Old Doing Hip-Hop? ‘The Simpsons’ Is Where Free Speech Battles Age Bias Claims
As the old saying goes, no business is like show business. For one thing, show business is speech business. But what acts by an entertainment producer are legitimately free speech, and what acts are plain ol’ discrimination? That’s not always clear. Just look at the ongoing case of Alf Clausen, the 79-year-old who was fired as Simpsons composer after 27 years of celebrated work on the animated classic. As his lawsuit heads toward an important hearing next week, Clausen looks to undercut Fox’s positioning that this dispute relates to an important First Amendment issue. Clausen is suing Disney and its Fox divisions with the claim that his termination was due to age and disability discrimination. The musician says he has been diagnosed with Parkinson’s disease and he o...
Canceled Virgin Fest Sues WME, Demands Agency Return $6M Artist Deposits
Virgin Fest is suing talent agency William Morris Endeavor Entertainment for failing to return artist deposits paid in advance of the now-canceled June 6-7 event in Los Angeles. The deposits totaled $6 million for performers Lizzo, Ellie Goulding, Kali Uchis and others to reserve their availability for the inaugural festival in Los Angeles’ Exposition Park, which was scrapped in May due to the coronavirus pandemic. The contract Virgin Fest signed with WME included a force majeure provision that outlined that the money would have to be returned in the if any “act beyond the reasonable control of the producer, which makes the performance impossible, unfeasible or unsafe,” according to court documents filed Friday and reviewed by Billboard. The concert promoters say that the...
Linkin Park Speaks Out Against Trump After ‘In the End’ Appears in Campaign Video on Twitter
Linkin Park is speaking out against Donald Trump after the president’s team tweeted a campaign advertisement featuring the band’s music without its permission. On Saturday (July 18), Twitter removed a campaign-style video featuring a cover of Linkin Park’s 2002 song “In the End,” citing a copyright complaint. The video ad, originally posted by White House social media director Dan Scavino, was later retweeted by the president. “Linkin Park did not and does not endorse Trump, nor authorize his organization to use any of our music. A cease and desist has been issued,” Linkin Park tweeted Saturday. Twitter removed the campaign video after after receiving a Digital Millennium Copyright Act notice from Linkin Park’s Machine Shop Entertainment, Reu...
AEG Partners With Resorts World for New Las Vegas Theater: Exclusive
The 5,000-capacity Theatre at Resorts World Las Vegas will be used for concerts, residencies, conventions and sporting events. While all the world’s stages have been dark now for more than four months as a result of the coronavirus pandemic, Las Vegas is plotting a course for the future. Come summer 2021, the city will welcome The Theatre at Resorts World Las Vegas, the first new-from-the-ground-up casino-resort in more than a decade. The Theatre is a joint development between Resorts World Las Vegas and AEG Presents — exclusively programmed and operated by Concerts West, a division of AEG Presents. Scott Sibella, president of Resorts World Las Vegas, and John Meglen, president and co-CEO of Concerts West, tell Billboard in an exclusive interview that The Theatre and its programming ...
