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April 18, 2015 12:36 AM ET

Media

Company Overview of Universal Music Group, Inc.

Company Overview

Universal Music Group, Inc. provides recorded music, music publishing, and merchandising services in North America, Europe, Latin America, Asia Pacific, and worldwide. It discovers and develops songwriters, and owns and administers copyrights to musical compositions for use in recordings, public performances, and related uses, such as films and advertisements; and sells artist and music branded products through multiple sales points including online, fashion retail, and live performances worldwide. The company was formerly known as MCA Music Entertainment Group, Inc. and changed its name to Universal Music Group, Inc. in 1996. Universal Music Group, Inc. was incorporated in 1998 and is headq...

2220 Colorado Avenue

Santa Monica, CA 90404

United States

Founded in 1998

Phone:

310-865-5000

Fax:

310-865-7096

Key Executives for Universal Music Group, Inc.

Chairman, Chief Executive Officer and Member of Management Board
Age: 54
President and Chief Operating Officer
Chief Financial Officer and Executive Vice President
Chairman of Global Operations Outside Us and Chief Executive Officer of Global Operations Outside Us
Chief Executive Officer of Vevo, President of Vevo and Executive Vice President of Elabs
Compensation as of Fiscal Year 2014.

Universal Music Group, Inc. Key Developments

Universal Music Group and Class Action Attorneys Propose Settlement Agreement on Digital Download Royalties

Universal Music Group (UMG), on behalf of UMG Recordings Inc. and Capitol Records LLC, and plaintiffs' attorneys representing clients in class action lawsuits regarding digital download royalties submitted a settlement for preliminary court approval. In the lawsuit, the plaintiffs (including the estate of Rick James, Chuck D of Public Enemy, and others) alleged that UMG failed to pay proper royalties to certain artists when consumers bought MP3 files from digital music retailers. Under the proposed terms, UMG will contribute a maximum of $11.5 million to supplement payments to class members for past digital download activity, cover attorneys' fees and administrative costs, and also increase digital download royalties by approximately 10% going forward to class members who submit a claim. In the settlement agreement, UMG specifically denies the plaintiffs' claims, and states that it agreed to settle the claims rather than continue to litigate the matter to avoid the associated legal expenses.

Vivendi Reiterates that Universal Music Group Is Not For Sale

Vivendi Société Anonyme (ENXTPA:VIV) reiterated that its Universal Music Group, Inc. unit is not for sale. Vivendi confirmed that it had received a letter in late December 2014 from P. Schoenfeld Asset Management LP, calling for the sale of Universal Music. Arnaud de Puyfontaine, Chairman of the Management Board, has made it clear on several occasions, and notably at a conference in London on March 17, 2015, that Universal Music is not for sale and, along with Canal+ Group, constitute the strategic pillars in the building of a major industrial media and content group. P. Schoenfeld Asset Management has hired advisers to prepare for a potential fight over Vivendi’s Board.

Malone Reportedly Approaches Vincent To Sell His Stake In Universal Music

John Malone approached Vincent Bolloré, the chairman and biggest shareholder of Vivendi Société Anonyme (ENXTPA:VIV) to sell his interest in Universal Music Group, Inc., The Post has learned. Bolloré has said publicly that his strategy calls for Vivendi to expand its media holdings. Malone’s bid for Universal, which sources said was informal and deemed a long shot, is just one possible path. Reps for Vivendi and Liberty declined to comment. Universal could serve Malone’s interests in more ways than one. Vivendi shares were up slightly in trading, rising 0.3% to 21.62.

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