This week, Warner Music Group entered into a definitive agreement to acquire Revelator, the B2B music platform specializing in digital distribution and rights management.
Meanwhile, a regulatory filing in South Korea showed that HYBE is injecting $100 million into its US subsidiary, HYBE America Inc.
Elsewhere, Sony Music appointed Ezekiel Lewis as Chairman and CEO of Epic Records.
Also this week, Universal Music Group kicked off its first-ever share buyback program, worth €500 million, and UMG fired back at Drake’s appeal over the dismissal of his ‘Not Like Us’ lawsuit.
Here are some of the biggest headlines from the past few days…
1. WARNER MUSIC GROUP TO ACQUIRE REVELATOR
Warner Music Group has entered into a definitive agreement to acquire Revelator, described by WMG as “the innovative B2B music platform that serves the independent business worldwide”.
The transaction is subject to customary conditions and is expected to close next quarter.
WMG said that the deal marks the latest move in its distribution and label services expansion.
Formed in 2012, Revelator specializes in digital music distribution, rights management, royalty accounting, and real-time analytics… (MBW)
2. HYBE TO INJECT $100M INTO US SUBSIDIARY, HYBE AMERICA
HYBE is pumping $100 million into its US subsidiary, HYBE America Inc., according to a regulatory filing published on Tuesday (March 31).
The capital injection, approved by HYBE’s board on March 31, takes the form of a paid-in capital increase in which the South Korean entertainment giant is acquiring 10 million new shares in its wholly owned subsidiary.
The acquisition amount of KRW 150.8 billion ($100m) was calculated using the Seoul Foreign Exchange Brokerage’s quoted exchange rate of KRW 1,508.10 per US dollar on March 30.
The filing, published on South Korea’s DART disclosure system, states that the purpose of the investment is to support “the smooth business operations of HYBE America Inc.”… (MBW)
3. EZEKIEL LEWIS NAMED CHAIRMAN AND CEO OF EPIC RECORDS
Sony Music has appointed Ezekiel Lewis as Chairman and CEO of Epic Records.
In this role, Lewis will report to Rob Stringer, Chairman, Sony Music Group.
Lewis joined Epic Records in 2018 as Executive Vice President, A&R, and was most recently elevated to President in 2023, where he led the A&R division while helping run the day-to-day operations of the company.
According to the announcement on Monday (March 30), as CEO, he will “direct all aspects of Epic’s creative vision and business operations, building on the label’s long-standing commitment to artist development.”… (MBW)
4. UNIVERSAL MUSIC GROUP KICKS OFF €500 MILLION SHARE BUYBACK PROGRAM
Universal Music Group kicked off its EUR €500 million (USD $579m) share repurchase program on Wednesday (April 1).
The program, initially announced on Monday (March 30), marks the company’s first-ever share buyback.
As previously announced, the world’s largest music company will buy back shares through a program executed by a single, unnamed broker. The shares will be repurchased from the Euronext Amsterdam Stock Exchange, Turquoise Europe, Aquis Exchange Europe and CBOE Europe Limited.
The program is capped at 50 million shares and is expected to wrap up by October 1, 2026, although UMG reserved the right to suspend, modify, or discontinue it at any point… (MBW)
5. UMG FIRES BACK AT DRAKE APPEAL OVER ‘NOT LIKE US’ CASE DISMISSAL: 3 TAKEAWAYS FROM RESPONSE BRIEF
Universal Music Group has filed its response brief in Drake’s appeal against the dismissal of his lawsuit over Kendrick Lamar’s Not Like Us.
In the 83-page brief, UMG argues that Drake’s case fails because “he seeks to strip words from their context and deem them actionable defamation”.
Drake filed his 117-page appellate brief in January, challenging Judge Jeannette Vargas’s October dismissal of his defamation lawsuit against UMG over Lamar’s Not Like Us.
He originally sued UMG in January 2025, about eight months after Not Like Us was released, alleging that UMG “intentionally published and promoted” the song, knowing that its lyrical content was false and defamatory… (MBW)
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