Category Archives: International

Canadian Independent Publisher Ole Acquires a 50% Ownership Stake In SB21

Ashley King | November 11, 2018

ole_logoIndependent music publisher ole has reached a deal with SB21 Music Publishing to acquire 50% ownership of its music catalog.

The Canadian publisher will also control all songwriter contracts and administration rights to the full catalog, according to details shared ahead of the weekend. SB21’s music catalog includes hits from Luke Bryan, Danny Gokey, Jason Aldean, and Jordan Davis.

The SB21 catalog in question contains more than 2,500 songs.

Ole’s Vice President of Creative John Ozier and SB21 founder owner and founder Teresa Smith both heralded the deal as a way to spur greater growth in placements and resulting revenue. “The writers and partners of SB21 are very proud and excited to be working with ole in taking the SB21 songs to places where the music will be given the opportunity to speak for itself,” Smith stated.

“We are honored to be joining ole’s distinguished roster, and cannot wait to see the incredible things that the future will bring for this catalog.”

SB21 was founded in 2011 by songwriter and producer Steve Pasch. The company’s catalog of songs includes works from songwriters like Brian White who wrote Rodney Adkins’ “Watching You,” and David Fraiser who wrote Luke Bryan’s recent hit “Most People Are Good.”

Ole is a Canadian independent music rights management firm that was founded in 2004. The company has offices in Toronto, Nashville, New York, Los Angeles, and London. Ole’s umbrella of works contains more than 55,000 songs, and it operates a label services arm under the ole label group.

The label group division includes anthem, anthem Legacy, and red dot.

The acquisition not all that surprising, despite the fact that ole was looking for a new equity sponsor in 2017. Ole sought an overall valuation of $800 million during that recapitalization process. During the process, the company confirmed that it would include “seeking acquisitions that make strategic sense.”

Now that the recapitalization process has been completed, SB21 could be the first of many indie publisher acquisitions and deals.

Source: https://www.digitalmusicnews.com/2018/11/11/ole-sb21/

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Spanish Rights Society SGAE Has Record Low Turnout for Board Elections NEWSLEGAL AND MANAGEMENT

By Judy Cantor-Navas | October 31, 2018

 

Teddy Bautista, disgraced former president of the Spanish Authors Society, fails in effort to regain control of the embattled entity.

Teddy Bautista failed in his effort to make a comeback at SGAE, the troubled Spanish Authors Society, which held its board elections on Oct. 26. Bautista, who was arrested seven years ago in a federal sting operation and charged with misappropriation of funds, ran for a seat and possible return to the presidency while still awaiting trial in the case, which authorities say cost the organization 20 million euros (almost $26 million) and for which he could be sentenced to seven years in prison.

In the end, Bautista did not get enough votes to bring him back to SGAE.

The 35 members of the new board include flamenco guitarist Josemi Carmona, Grammy-winning conductor José de Eusebio, Asturian gaita player Hevia and rock singer Huecco.

The 18,970 members of the rights organization with the right to vote in the elections turned out in the lowest numbers ever. Only 1,373, or 7.25% percent voted.

Before the elections, 15 musicians who were on the docket withdrew their candidacies for the board because electronic voting was not permitted. Artists well-known in Spain including Kiko Veneno, Jota (Juan Rodríguez) from the group Los Planetas and singer Sole Gimenez also urged their fellow members to refrain from voting. Members were permitted to vote in person or by mail.

SGAE has been dogged by problems which have heated up since the summer of 2017, when Spanish agents again raided the organization’s Madrid headquarters, and arrested 18 people suspected of involvement in “the wheel,” a royalty scam involving late night television. This year, the International Confederation of Societies of Authors and Composers (CISAC) revealed its “serious concerns” about SGAE’s conflicts of interest, “distorted and inequitable distribution of royalties” and “lack of regard for the common good” in a 65-page report issued in May. Multinational publishing companies Warner/Chappell, peermusic and EMI Songs have threatened to pull their catalogues from SGAE after they were all ejected from the entity’s board.

The SGAE administration has also been at odds with Spain’s Ministry of Cutlure, which has threatened to intervene and take over the running of the organization. And SGAE is undergoing an audit to investigate possible errors in hundreds of publishing contracts registered with the rights society, according to Spanish newspaper El Pais. Last week, Spain’s Minister of Culture, José Guirao, warned that SGAE is “on the road to disaster,” adding that the government’s cultural department will do everything possible so that the organization “obeys the law.”

Source: Billboard.com