Industry and Local News
The Knight Foundation has announced $40 million in local grants. $20 million will be offered on a matching basis to local groups in Miami-Dade and Broward counties for "innovative arts ideas." $5 million will be given to the New World Symphony for a New Media Endowment, advancing their use of Internet2 and digital technology. $5 million will be given to Miami's Museum of Contemporary Art and $10 million will be given to the Miami Art Museum.The FCC has approved the buyout of Clear Channel by private equity firms Bain Capital Partners and Thomas H. Lee Partners for a price of about $20 billion. The buyout will result in Clear Channel divesting 42 radio stations in the top 100 markets.
Clear Channel's Live Nation division has been sold to Key Brand Entertainment for $90.4 million. Key Brand is owned by John Gore, a British producer who was a shareholder in all of Andrew Lloyd Webber's musicals. With the purchase, Key Brand acquires Broadway Across America, eight theaters owned by Broadway Across America, and investments in thirteen Broadway shows and eight touring productions.
Recording
Senators Patrick Leahy and Orrin Hatch and Representatives Howard Berman and Darrell Issa have introduced the Performance Rights Act. The legislation would compel broadcasters to pay performers when their music is played over the air. Songwriters and publishers already receive royalties for airplay of their tunes.
Meanwhile, the Copyright Royalty Board has begun hearings to determine royalty rates for songwriters. In addition to revising rates for CDs and downloads, the Board will for the first time determine rates for subscription services, ringtones, and interactive webcasts.
More than a dozen artists say they have been cheated out of more than $6 million in royalties and are suing Universal Music. Artists, including Richard Hayman and the estates of Count Basie and Benny Goodman, claim that Universal provided false information on sales and earnings from 199 to 2007 which resulted in reduced royalty payments.
Yahoo is in discussions with major labels to offer unprotected MP3s for sale or as part of an ad-supported service. Yahoo already offers free streaming videos and web radio and operates a music subscription service.
Symphonic
Opera Singer and RCAM Artist Management President Sonia Lewis will be starting an opera company in Jacksonville. Opera Jacksonville's first production will be Verdi's Aida in April or May of 2009, and they will produce three productions during the 2009-2010 season. The Jacksonville Symphony will serve as the pit orchestra for the opera.
The New World Symphony has broken ground for their new $200 million campus, which will be completed in 2010. The facility will include a 700-seat performance space, recording and webcast capability, rehearsal rooms, a library, and a conductor's studio.
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