Providence Equity Partners makes a strategic investment in Wasserman, buying out Redbird Capital and Madrone Capital. Global sports, music, and culture agency Wasserman has announced a strategic investment from Providence Equity Partners, a private equ…
Category archives: Wall Street
The Music Acquisition Corp. Floats Proposal for Full Liquidation — Shareholder Meeting Set for November 30th
Late last month, it came to light that the Music Acquisition Corporation (TMAC) was in the process of being delisted from the NYSE in the absence of a buyout. Now, higher-ups have officially floated a proposal for full liquidation. This latest developm…
Hipgnosis Songs Fund Valuation Continues to Slip Despite Ongoing Share-Buyback Program
Despite beginning a long-anticipated share-buyback program about three weeks ago, Hipgnosis Songs Fund (LON: SONG) has a market cap of about £1.04 billion (currently $1.18 billion) – well beneath the value assigned to its song catalog earlier in 2022. …
Spotify Stock (SPOT) Threatens to Sink Below $70 Per Share for the First Time — Will a Price Increase Turn Things Around?
Spotify stock (NYSE: SPOT) is threatening to fall beneath $70 per share for the first time in company history – prompting investors and observers to speculate about the Stockholm-based business’s path forward and long-term outlook. During today’s tradi…
Opry Entertainment Group Revenues Explode During Q3 as Post-Pandemic Crowds Return
According to its parent Ryman Hospitality Properties, Opry Entertainment Group saw its revenue grow 57.3% to $77.2 million in Q3. The post-pandemic boom is largely responsible, with the entertainment segment of its business up 86.2% ($183.6M) in the fi…
Deutsche Bank Aktiengesellschaft Drops Price Target on Warner Music Group
Deutsche Bank Aktiengesellschaft drops its price target on Warner Music Group as WMG becomes the subject of several financial entities’ research reports. Warner Music Group’s price objective was decreased by stock analysts at Deutsche Bank …
Spotify Stock Plunges More Than 15% Following Q3 Financial Report
Despite growth in subscribers, MAUs, and revenues, SPOT stock is headed in a downward trend following the company’s Q3 financial report. Shares have tanked more than 15% in two trading sessions following the company’s Q3 earnings call. Spot…
YOOM Raises $15 Million — Finneas and Jimmy Iovine Among the Star-Studded Investors
YOOM raises $15 million in a star-studded round of investment from the likes of Finneas and Jimmy Iovine. YOOM, founded in 2016 by Dr. Miky Tamir and Micha Birnboim and known initially as Tetavi, has raised $15 million from its star-studded investor li…
The Music Acquisition Corp., Once a High-Flying SPAC, Is Getting Delisted by the New York Stock Exchange
The Music Acquisition Corp. (TMAC.U) is seeking shareholder approval to liquidate its trust early. The SPAC doesn’t have a completion deadline until February 5, 2023, but the board believes market conditions make it unlikely to secure a business …
Spotify Shares Drop Despite Double-Digit Subscriber Gains — And a Possible Price Hike Ahead
Spotify subscribers, monthly average users, and revenues all headed north during the latest third quarter. Wall Street sent shares south. It was an impressive third-quarter financial review for Spotify on Tuesday, though Wall Street proved difficult to…