News

08 Sep 2023

Executive Turntable: IMPALA Gets Boarded Up; Curb Sends Word on Publishing Moves

If it’s Friday that means another spin around the Executive Turntable, Billboard’s comprehensive(ish) compendium of promotions, hirings, exits and firings — and all things in between — across the music industry.

European indie labels body IMPALA unveiled a new board for the upcoming two-year term, with Francesca Trainini of Italian national association PMI elected president and Dario Draštata of Balkan regional association RUNDA tapped as new chair. Everlasting Records CEO Mark Kitcatt stepped down as president, but will continue as a board member and chair of IMPALA’s streaming reform group. Standing pat is Geert De Blaere of Belgium’s BIMA as treasurer and Helen Smith as executive chair. At the Vienna WAVES Festival and Conference, the trade body also reviewed its priorities for the new term, including a focus on streaming reform, artificial intelligence and growth in Central Eastern Europe. “The Central and Eastern European region is a huge market with amazing talent and I am excited to be able to chair IMPALA with the huge opportunities we have across streaming and the whole market,” said Draštata, whose RUNDA supports former Yugoslavia nations. For more information on the membership makeup and structure of IMPALA, click here.

Curb/Word Music Publishing promoted and added staff in its country music publishing department. Sarah Schumacher has been promoted to senior creative director, country publishing, while Calista Miller has joined the team as creative coordinator, country publishing. Schumacher previously worked at Disney Music Group and Darkhorse Music Management, before initially joining Curb/Word Music Publishing in 2021 as creative director of country publishing. Schumacher’s responsibilities include managing creative operations of the country songwriter roster and catalog, recently signing writer/producer Alex Kline into the Curb | Word Music Publishing family. Miller is a recent 2022 graduate of Belmont University’s Mike Curb College of Entertainment and Music Business and previously interned for Curb/Word Music Publishing’s country team. Miller’s primary responsibilities include coordinating and facilitating strategic writing sessions for the country writer roster, managing social media strategy for the department, and assisting in pitching/placing writer catalog, in addition to catalog administration duties. –Jessica Nicholson

Music B2B company Revelator hired Luciana Pegorer and Arturo Soler to co-pilot the firm’s expansion into the booming indie Latin American market. Formerly of Warner Music Brazil, Pegorer will lead Revelator’s Brazilian office, while music industry veteran Soler will lead the company’s LATAM office out of Mexico. “Revelator has always operated globally but we saw that to serve the fast-changing Latin American market, we needed highly qualified, creative professionals with deep relationships, who were natives to the local market” notes Revelator founder and CEO Bruno Guez. “We found them in Luciana and Arturo.”

NPR president and CEO John Lansing announced he’ll retire at the end of the year after a four-year tenure that involved navigating the COVID-19 pandemic and a recent budget crunch. He’ll remain in place until NPR’s board of directors identifies his replacement, the public radio giant said. “We are all immensely grateful to John for his principled and tenacious leadership through a turbulent time for NPR, our system and our nation,” said NPR board chair Jeff Sine. Prior to joining NPR, Lansing was the CEO of USAGM, overseeing several global networks including Voice of America.

ICYMI: Timothy Xu is the new chairman and CEO of Universal Music Greater China … Julie Keiko Fujishima announced she was stepping down as president of talent agency Johnny & Associates … Elliot Grainge is joining Warner Music’s global leadership team … and this week saw the passing of Clive Davis’ righthand man at Arista, Elliot Goldman.

Australasian collecting society APRA AMCOS promoted Jonathan Carter from head of legal & corporate services to chief operating officer. Carter is a 15-year veteran of the rights group and scored his current position in 2016. In his spare time, he sits on the Global Legal & Policy Committee of CISAC and was previously president of the Copyright Society of Australia. “Given our growth, size and strategic ambition, we need to look at how we’re going to operationalise and drive our strategic plan across the company, and similarly ensure we’re taking a holistic view in mitigating risk,” said Dean Ormston, Chief Executive APRA AMCOS. “Jonathan will be critical in helping us collectively drive forward on our strategic plan.”

The Massachusetts Institute of Technology not only has a music department, but it just hired its first-ever professor Jazz. Grammy-nominated alto saxophonist, composer, bandleader and MacArthur Fellow Miguel Zenón has joined the MIT faculty. “MIT is an incredible school with top-tier students and a creative and open-minded aesthetic,” says Zenón. “I’m extremely excited and honored to become part of the MIT family.”

Last Week’s Turntable: Former Asylum Co-President Joins Hitmaker

08 Sep 2023

Exceleration Music Moves Into Distribution With Redeye Acquisition

Exceleration Music, the independent music company that has invested in and acquired numerous indie labels over the past several years, has acquired global digital and physical distribution and music services company Redeye, it was announced Friday (Sept. 8).

The deal not only marks Exceleration’s biggest acquisition to date but an expansion into distribution and services, effectively creating an entirely new division at the company — albeit one that will continue to operate under the Redeye name. Under the agreement, Redeye founders Glenn Dicker and Tor Hansen will continue to lead the company, retaining its existing staff and infrastructure while taking advantage of the resources and expertise offered by the Exceleration partners and team.

“We looked at what was happening with the distribution landscape, [which was seeing] a lot of consolidation,” Exceleration co-founder Glen Barros tells Billboard. “You know, you have each of the majors buying up indie distributors, and we thought it would be good to really preserve and strengthen a great indie option and make sure that indie labels have a fully independent path to market.”

The deal also includes Redeye’s in-house labels, Yep Roc and Sundazed, along with its publishing company, Riff City Sounds. Yep Roc’s roster includes Nick Lowe, Dave Alvin, Aoife O’Donovan, Alejandro Escovedo, Chuck Prophet and Jobi Riccio. Sundazed is a reissue label based in the United States.

Redeye — which signed a distribution deal with Exceleration in May — represents some of the world’s most prominent independent labels, including Beggars Group, Domino, New West, Saddle Creek, Mom+Pop, Kemado/Mexican Summer, Stones Throw, Warp, Drag City, Real Gone, Innovative Leisure, Carpark, !K7, Thrill Jockey, Luaka Bop, Partisan, Sargent House, Ninja Tune, Barsuk and Daptone.

Founded in 1996 by Hansen and Dicker, the distributor is headquartered in Hillsborough, N.C., and boasts more than 120 employees spread across 15 locations in the United States, Canada, Europe, the United Kingdom and Australia. Prior to the acquisition, it was wholly owned and operated by Dicker, Hansen and their team. In 2019, the company merged with Sweden-based distributor Border Music to expand its distribution operation in Europe.

In addition to Hansen and Dicker, Redeye’s leadership structure will remain in place following the acquisition. The list of high-level executives at the company includes Michael Petkov, head of international; Jason Taylor, director of global sales (physical and digital); Laura Pittard, director of global marketing; Michael Howard, associate vp of global operations; Hank Stockard, global business development director; Sean Pecor, IT director; and Jim Trenner, global accounting director.

Moving forward, Exceleration will support Redeye’s existing growth plans by providing operational and strategic support as well as capital. “Redeye has done a lot of work over the last few years to expand their worldwide footprint on the physical side, and they’re been a digital distributor for a long time too,” says Exceleration co-founder Dave Hansen. “So we’re going to work with them to continue building that network and offer a real solution for their existing customers, our label group and new customers [as well].”

More than anything, adds Barros, the Redeye acquisition dovetails nicely with Exceleration’s overall mission: to strengthen the independent music community in whatever ways it can. “We really want to serve this community according to what’s important within this community, and [that] is having, I think, an independent vibe,” he says. “It really is looking at the whole sector holistically and saying, ‘How can we really fill the needs of the community and do it in an indie way?’”

Exceleration was founded in 2020 by a group of five prominent independent label executives: Barros (former CEO of Concord Music Group), Hansen (executive chairman of Merlin and former GM of Epitaph), Charles Caldas (former CEO of Merlin), Amy Dietz (former GM of Ingrooves) and John Burk (a Grammy-winning producer and former president of Concord Records). Its music rights group includes investments and partnerships with labels and catalogs including +1 Records, Alligator, Azadi, Bloodshot, Candid, Heroic, Kill Rock Stars, Mom+Pop, SideOneDummy and The Ray Charles Foundation/Tangerine Records. The company currently boasts nearly 30 employees and is currently hiring for two additional positions, including a head of finance. Funding for Exceleration comes from all five of its partners as well as institutional and private investors.

“Working with the Exceleration team feels like expanding the family,” said Dicker in a statement. “Sharing strong ideals and a strategic vision, it feels like the next natural step on our journey towards providing our world class distribution service to an expanded independent community.”

08 Sep 2023

Lil Baby Memphis Show Stopped, Venue Evacuated After Man Shot, Critically Wounded

A man was shot and critically wounded during a Lil Baby show at the FedEx Forum in Memphis, TN on Thursday night (Sept. 7) according to an Associated Press report. According to a statement posted by the Memphis Police Department, officers responded to reports of a shooting at the venue at 10:23 p.m., with “one adult male shooting victim [was] located and transported to Regional One Health in critical condition.”

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At the time of the tweet from the Memphis PD, the identity of the shooter was unknown and no other injuries were reported in the incident during Baby’s It’s Only Us tour, which also features The Kid Laroi and Glorilla. At press time a spokesperson for Lil Baby had not returned Billboard‘s request for additional comment on the shooting.

The venue released a statement on the shooting, saying, “A person was shot tonight at FedExForum during the Lil Baby concert. The incident is under investigation and we are fully cooperating with the Memphis Police Department.”

WREG 3 reported that Baby (born Dominique Armani Jones), 28, was performing and had to be rushed off the stage after the shots were fired in the venue. “I heard a pop,” concert attendee Clarissa Johnson told the station. “I’m not sure what happened but I had a suite, so I told all my crew, ‘get down.’ So we evacuated. Once we evacuated, did a head count. I’m still not sure what happened. It’s not so sweet tonight, though.”

Memphis Police said the shooting took place on the first floor of the 19,000-seat arena that is home to the NBA’s Memphis Grizzlies; concertgoers reportedly told WREG that the shots were fired during the first 30 minutes of Baby’s headlining set, after which the venue was evacuated. MPD public information officer Sgt. Louis Brownlee told the Commercial Appeal that it was unknown if the shooter and victim knew each other, how many times the victim was shot or how many shots were fired.

Brownlee also said it was not clear how the firearm got into the venue; the venue requires concert attendees to go through a metal detector while entering.

Baby was scheduled to play the KFC YUM! Center in Louisville, KY on Friday night (Sept. 8), but the venue announced that the gig had been cancelled with no explanation, with refunds available at point of purchase. At press time it appeared the rapper’s show at Bridgestone Arena in Nashville on Saturday night (Sept. 9) would go on as scheduled.

See the Memphis PD statement below.

08 Sep 2023

Jonathan Majors’ Domestic Abuse Trial Gets Another Delay

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Trial Begins For Actor Jonathan Majors' Domestic Violence Charges

Source: Alexi Rosenfeld / Getty

Six months after the initial incident, Jonathan Majors’ trial for domestic abuse has been delayed again.

On Wednesday (September 6th), Majors appeared via video conference link as his legal team of Priya Chaudhry and Seth Zuckerman were in a New York courtroom along with Assistant District Attorney Kelli Galaway. While the prosecution declared that they were ready for trial (their expressed unreadiness at an August hearing caused the previous delay), Zuckerman stated: “We have written to the prosecutor regarding deficiencies” which were listed in a certificate of compliance filed with the court by the DA’s office and said they were “not yet ready”.

Judge Rachel S. Pauley heard from the prosecution and defense, who said they were still in communication on the issue. The judge then set a new date of September 15 for the trial, addressing the Creed III actor to let him know that he would have to be present for the trial once it begins. “Between now and the next court date no contact whatsoever with the complainant in this case, and stay in touch with your attorneys,” she told him before saying, “Good luck.” Majors responded, “Yes ma’am.” The hearing was short, and Harlem actress Meagan Good (who accompanied Majors to his previous hearing) was also absent from the courtroom.

Once a rising star, Jonathan Majors has seen his opportunities dissipate after being arrested in March on charges of harassment, strangulation, and assault of his then 30-year-old girlfriend as part of a domestic dispute. Chaudhry told the press at that time that the Lovecraft Country actor was“completely innocent and is provably the victim of an altercation with a woman he knows”.”  

He was dropped by his 360 Entertainment management company and the Lede Company PR team in April. He also had been dropped from ad campaigns such as the Army’s recent launch that month, and other film opportunities were pulled. Majors is still signed on with Marvel and is slated to appear in the second season of Loki, which will air in October on Disney Plus, and in Avengers: The Kang Dynasty, as Kang The Conqueror. 

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08 Sep 2023

Bong Bong: RZA Announces ’36 Chambers’ 30th Anniversary Shows In NYC

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HULU

Source: JOHNNY NUNEZ / Johnny Nunez

The Wu-Tan Clan’s debut album is about to be brought to life in historic fashion. RZA has announced a series of 36 Chambers 30th anniversary shows.

As spotted on Hypebeast The Abbot will be treating Wu fans to some distinct celebrations at an iconic venue in New York City. Slated for November 7, November 8 and November 9 the “Tragedy” rapper will be hosting a concert that is slotted to take ticket holders “deeper into the iconic 36 Chambers featuring a live orchestration”. The three date series follows his 36 Chambers of Shaolin and A Ballet Through Mud live production previously done in Denver earlier this year. This set though featured a live orchestra and a ballet.

“With the group’s classic 1993 debut, Enter the Wu-Tang (36 Chambers), RZA established their widely imitated core sound, consisting of stark, booming beats and chilling samples (heavily drawing from vintage soul records as well as Kung Fu movies), setting the backdrop for the crew’s gritty, violent narratives” a formal press release reads.

The presale for The RZA shows started today. You buy tickets here.

Photo: JOHNNY NUNEZ

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08 Sep 2023

Whoopi Goldberg Shuts Down COVID Conspiracies In Video

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Celebrities Visit Broadway - July 2023

Source: Bruce Glikas / Getty

Whoopi Goldberg sent a video message to her co-hosts of The View while recovering from COVID-19, knocking down online conspiracies in the process.

On Wednesday (September 6th), Joy Behar opened up the episode by informing the audience as she did the day before that Goldberg was absent due to COVID before playing a video message from the EGOT winner. “In spite of everything you’ve heard,” said a masked-up Goldberg, “I am not at Burning Man, I am not still in Italy, I am not trying to change the outcome of the election, I just have Covid.”


https://youtube.com/watch?v=BPIIKqSHWEU&version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&start=7&wmode=transparent

She commented that she was still testing positive for Covid, so she would not be on the show for the next few days. Goldberg went on to state that she was “thrilled to see the beautiful new desk” which made its debut on Tuesday for the premiere of the daytime talk show’s 27th season. “And I’m thrilled to see all the beautiful women…I can’t wait to get back and hang out.”

It’s the third time that Goldberg has been infected with COVID-19. Behar took time out to address the mounting conspiracy theories peddled by right-wingers, who claim that high-profile announcements of those who had caught Covid were being created to initiate government crackdowns through mandates. The White House previously announced that First Lady Jill Biden tested positive for Covid on Monday (September 5th).

Behar added her two cents about all of the conspiracy theories on air. “People write she got the vaccine so how come she still gets it?” she said. ” “Because she’s not dead! She’s just a little under the weather. If you don’t get [the vaccine] and you get the disease you might die.” Co-host Ana Navarro joined in to say, “Before we had the vaccines, people did die.” Behar then quipped, “This type of irrational talk drives me nuts.”

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08 Sep 2023

Two Barbra Streisand Albums Are Coming Ahead of Her Memoir

Fans of iconic multi-hyphenate Barbra Streisand have extra reason to feel like the luckiest people in the world this fall. Not only will the eight-time Grammy winner release her memoir, My Name is Barbra, on Nov. 7, but in late October, Columbia Records and Legacy Recordings will release two albums.

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EVERGREENS: Celebrating Six Decades on Columbia Records and YENTL: 40th Anniversary Deluxe Edition will come out on CD and digitally on Oct. 27. EVERGREENS will be a little bit different than any previous Streisand collection – zero of its tracks have appeared on previous compilations. Per the press release, “[The songs] were chosen by Barbra to convey her emotional connection to these melodies and lyrics – each holding a special place in her heart and memory.” The first taste of the comp is available now as an instant grat track – it’s a “2023 Mix” of her Oscar- and Grammy-winning Billboard Hot 100 chart topper “Evergreen (Love Theme from A Star is Born).” But beyond that three-week No. 1, none of the songs on this album impacted the Hot 100 (one song was previously unreleased), being selected for EVERGREENS for personal rather than commercial reasons. You can see what other songs feature on the 22-track compilation below.

The anniversary edition of the Yentl soundtrack, which was a top 10 hit on the Billboard 200, boasts 15 songs, the majority of which are tantalizing rarities. The album features 11 demo versions of Yentl songs, recordings that Streisand made in her living room with the late, legendary composer Michael Legrand on piano as her only accompaniment. Ahead of the Oct. 27 release, a demo version of “Papa, Can You Hear Me?” will leave the vault and see the light of day.

See the tracklists for both albums below.

EVERGREENS: Celebrating Six Decades on Columbia Records

1.  I’ll Tell The Man In The Street

(Richard Rodgers/Lorenz Hart)

(The Barbra Streisand Album – 1963)

2.  Bewitched (Bothered And Bewildered)

(Richard Rodgers/Lorenz Hart)

(The Third Album – 1964)

3.  Absent Minded Me

(Jule Styne/Bob Merrill)

(People – 1964)

4.  The Shadow Of Your Smile

(Johnny Mandel/Paul Francis Webster)

(My Name Is Barbra, Two… – 1965)

5.  Where Or When

(Richard Rodgers/Lorenz Hart)

(Color Me Barbra – 1966)

6.  Ma Première Chanson ++

(Barbra Streisand/Eddy Marnay)

(Je m’appelle Barbra – 1966)

7.  I Don’t Know Where I Stand

(Joni Mitchell)

(Stoney End – 1971)

8.  I Never Meant To Hurt You

(Laura Nyro)

(Barbra Joan Streisand – 1971)

9.  Letters That Cross In The Mail

(Rupert Holmes)

(Lazy Afternoon – 1975)

10.  Answer Me

(Barbra Streisand/Paul Williams/Kenny Ascher)

(Superman – 1977)

11.  Tomorrow

(Charles Strouse/Martin Charnin)

(Songbird – 1978)

12.  Can’t Help Lovin’ That Man

(Richard Rodgers/Oscar Hammerstein II)

(The Broadway Album – 1986)

13.  Two People

(Barbra Streisand/Alan & Marilyn Bergman)

(Till I Loved You – 1988)

14.  Some Enchanted Evening ++

(Richard Rodgers/Oscar Hammerstein II)

(Back To Broadway – 1993)

15.  I Believe

(Ervin Drake/Irvin Graham/Jimmy Shirl/Al Stillman)

(Higher Ground – 1997)

(Previously unreleased)  

16.  Isn’t It A Pity?

(George Gershwin/Ira Gershwin)

(A Love Like Ours – 1999)

17.  Moon River

(Henry Mancini/Johnny Mercer)

(The Movie Album – 2003)

18.  Here’s To Life (Orchestra version)

(Artie Butler/Phyllis Molinary)

(Love Is The Answer – 2009)

19.  The Windmills Of Your Mind

(Michel Legrand/Alan & Marilyn Bergman)

(What Matters Most: Barbra Streisand Sings the Lyrics of Alan and Marilyn Bergman – 2011)  

20.  Who Can I Turn To (When Nobody Needs Me) with Anthony Newley

(Anthony Newley/Leslie Bricusse)

(Encore: Movie Partners Sing Broadway – 2016)

21.  Lady Liberty

(Desmond Child)

(Walls – 2018)

22.  Evergreen (Love Theme from A Star Is Born) (2023)

(Barbra Streisand/Paul Williams)

1976 Vocal Produced by Barbra Streisand & Phil Ramone

2023 version:

Produced & Arranged by Walter Afanasieff & Barbra Streisand

Co-Produced & Mixed by Jochem van der Saag

Engineer/Programming: Dmytro Gordon

Executive Producer: Jay Landers

(Previously unreleased)

YENTL: 40th Anniversary Deluxe Edition

Disc One:

Original Motion Picture Soundtrack

1. Where Is It Written? (4:54)

2. Papa, Can You Hear Me? (3:33)

3. This is One of Those Moments (4:11)

4. No Wonder (2:31)

5. The Way He Makes Me Feel (3:47)

6. No Wonder (Part Two) (3:22)

7. Tomorrow Night (4:42)

8. Will Someone Every Look At Me That Way? (3:06)

9. No Matter What Happens (4:07)

10. No Wonder (reprise) (1:06)

11. A Piece of Sky (4:20)

12. The Way He Makes Me Feel (studio version) (4:12)

13. No Matter What Happens (studio version) (3:25)

DISC TWO

THE AUDITION TAPES & MORE

(Tracks 1-11: Barbra Streisand accompanied by Michel Legrand)

1. Where Is It Written? (demo)

2. Papa, Can You Hear Me? (demo)

3. The Way He Makes Me Feel (demo)

4. Several Sins A Day (demo)

5. No Wonder (demo)

6. Tomorrow Night (demo)

8. Tomorrow Night (reprise) (demo)

9. Will Someone Ever look At Me The Way? (demo)

10. The Moon and I (demo)

11. A Piece Of Sky (demo)

12. Papa, Can You Hear Me? (studio version)

13. Several Sins A Day (studio version)

14. Where Is It Written? (with Rabbinical chorus)

15. Papa, Can You Hear Me (without spoken prayer intro)

08 Sep 2023

Danelo Cavalcante Escaped Police Custody In By Climbing Out Of PA Prison

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Danelo Souza Cavalcante wanted poster

Source: handout / Crime Stoppers

Residents in Pennsylvania are on high-alert as a convicted murderer remains on the loose six days after he escaped from police custody in a while Spider-Man-ish manner.

According to Raw Story, 34-year Brazilian national Danelo Cavalcante was able to escape the Chester County Prison this past August 31st when he was left alone and literally crab walked up two parallel walls before ultimately making it onto the roof where he then sprinted to freedom. While residents should be worried about having Cavalcante roaming the streets, you lowkey have to appreciate his athleticism and wonder what kind of calisthenics program this man was on to make such a daring escape.

Local schools have shut down and authorities are asking residents to lock their doors as the manhunt for Cavalcante continues. Danelo Cavalcante was recently sentenced to life in prison for stabbing his girlfriend to death, so naturally he’s considered a very dangerous individual.

Raw Story reports:

Bevins warned residents that Cavalcante was likely looking to burglarize their homes looking for food, clothes and other supplies.

“Cavalcante has clearly already obtained some clothing and unknown other supplies and we want to minimize any opportunity to obtain anything more,” Bevins said. “It is important that we keep pressure on him as we continue the hunt.”

Resident Joe Delahanty, 40, was stopped four times by officers on his way to work early Wednesday, including a state trooper asking him to open the trunk of his car as they looked for Cavalcante.

“This is the first time in nine years that I’ve felt the need to lock my house doors when leaving for work,” Delahanty told the Philadelphia Inquirer.

Keep those doors locked and make sure the chimney’s are well guarded too because this killer’s a climber.

Cavalcante was last seen on Monday night when he was captured by trail cameras at a botanical garden near Philadelphia. Police are offering a $10,000 reward for information leading to the capture of the athletic murderer but until that hot tip comes in, authorities will be using drones, helicopters, night-vision goggles, and dogs to get their man.

Check out video of the escape below and let us know your thoughts in the comments section below.

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08 Sep 2023

Ed Sheeran to Perform ‘Autumn Variations’ Album in Full During Pair of Royal Albert Hall Gigs in London

Ed Sheeran will perform his upcoming Autumn Variations album in full at a pair of gigs at London’s Royal Albert Hall on Nov. 18-19. The singer tweeted a poster for the event on Friday morning (Sept. 8), which dubs the gigs the “Last Days of Autumn,” along with a hand-drawn image of an acorn.

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Autumn Variations will drop on Sept. 29 through Sheeran’s Gingerbread Man Records as the follow-up to his latest maths-series album, – (Subtract); both collections were produced by The National’s Aaron Dessner. The album will hit one week after the North American leg of Ed’s Mathematics World Tour wraps at Sofi Stadium in Los Angeles on September 23.

In a response to fan questions, Sheeran assured Sheerios that if they’ve already pre-ordered the album from the official store they will be automatically eligible for the show pre-sale. Pre-sale access codes and instructions will be emailed to eligible fans beginning at 5 p.m. BST on Sept. 13; click here for full information on ticketing options.

The Royal Albert Hall’s tweet about the show noted that it will be Sheeran’s final UK performance of the year and that the singer will be accompanied by a live band and a full string section.

“Last autumn, I found that my friends and I were going through so many life changes. After the heat of the summer, everything either calmed, settled, fell apart, came to a head or imploded,” Sheeran explained in a note announcing the album. “When I went through a difficult time at the start of last year, writing songs helped me understand my feelings and come to terms with what was going on, and when I learned about my friend’s different situations, I wrote songs, some from their perspectives, some from mine, to capture how they and I viewed the world at that time. There were highs of falling in love and new friendships among lows of heartbreak, depression, loneliness and confusion.”

Autumn Variations is Sheeran’s second album this year, following on the heels of Subtract, which debuted and peaked at No. 2 on the Billboard 200 albums in May. The album also launched at No. 1 on the Top Album Sales chart, with Sheeran’s largest sales week since 2017.

See the event poster below.

08 Sep 2023

Concord to Buy Round Hill Music Fund For $689 Million

Concord, under the name Alchemy Copyrights, has agreed to acquire the share capital of Round Hill Music Royalty Fund Ltd in a proposed deal jointly announced on Friday that values the rights in the fund at worth nearly $469 million.

If approved, Concord would acquire the music rights that sit in the publicly-listed Round Hill Music Royalty Fund, which includes 51 catalogs and roughly 150,000 songs by artists like Alice In Chains, Bonnie Tyler, Bush, Bruno Mars, Céline Dion, Lady A, Louis Armstrong, The Offspring, Carrie Underwood, The Supremes, Wilson Pickett and Whitesnake.

Launched in 2010, Round Hill Music was among the first catalog funds to raise money from instititutional investors to acquire and administer song catalogs. But since its November 2022 listing on the London Stock Exchange in November 2020, Round Hill Music Royalty Fund Ltd. has, like its peers Hipgnosis Songs Fund Ltd., struggled with a declining stock price this year as high inflation and interest rates have pressured alternative investments.

News of the Round Hill-Concord deal,reported earlier by Reuters, sent the fund’s stock up nearly 65% on Friday to $1.13 a share from its previous close of $0.69.

Under the proposed deal terms, Round Hill shareholders would receive $1.15 in cash per share, which values the ordinary share capital of the company at roughly $468.8 million.

While Concord’s proposed cash offer represents a premium price, it still represents a discount of approximately 11.5% to Round Hill Music Fund’s economic net asset value per share of $1.30.

In 2022, Round Hill reported its overall group revenues rose 32% year over year to $32.4 million and its portfolio’s fair value rose 13% $602.6 million.

The deal will be put to a shareholder vote at Round HIll’s nex general meeting on Oct. 18 and needs 75% of votes to pass. A group of shareholders led by Josh Gruss, Round Hill Music co-founder and CEO, who own roughly 33% of the fund’s shares have already signaled they will vote in favor of the deal.

“The Board is pleased to present this opportunity for liquidity at a premium to both the share price and the IPO price, as well as at a narrow discount to economic net asset value per share,” commented Robert Naylor, chairman of RHM. “The recommended offer represents excellent value for shareholders.”

Concord CEO Bob Valentine said that since its 2020 IPO, RHM has built an “impressive portfolio” of songs that “stand the test of time” and asserted that his company is “well positioned to maximise the value of this portfolio for all of the songwriters and artists within it.”

He added, “This offer enables RHM shareholders to realise their investment in the business at an attractive premium to the undisturbed share price, while the transaction provides an opportunity to create value for all stakeholders.”