European Parliament votes for controversial copyright rules September 12, 2018 The European Parliament today voted in favour of sweeping copyright reforms that could dramatically change the fortunes of both artists and businesses. The rules, which will force tech giants to pay for the work of artists and journalists that they use, passed by 438 votes to 226, with 39 abstentions. MEPs voted for amendments to [...]
CBS boss Les Moonves resigns as fresh sexual misconduct allegations surface September 10, 2018 The boss of American TV giant CBS Les Moonves has stepped down following allegations of sexual misconduct which were reported by US media. The company had been investigating its chief executive and chairman after The New Yorker magazine originally made the allegations in July, before it published new allegations from six more women yesterday. In a statement, [...]
Playtech sells entire stake in online trading group Plus500 for £176m September 7, 2018 Playtech has sold its entire 10 per cent stake in online trading platform Plus500 for approximately £176m. The gambling software manufacturer said it sold 11.4m shares at 1,550p each in the retail investor platform. Read more: Playtech profits fall due to "disappointing" Asian markets The company said the move would not impact its entitlement to the [...]
Editor’s notes: Jeff Bezos should look closer to home for ideas on where to spend his fortune, new peer Bethell is a Lord to applaud, and the Economist shows how to stand up to social media bullies September 7, 2018 Amazon has joined Apple in the ranks of $1 trillion companies based on market capitalisation. Shortly before his company hit this massive (but meaningless) valuation, founder Jeff Bezos was pondering how to spend his vast wealth. Bezos is estimated to be sitting on a $130bn (£100bn) fortune – and earlier this summer he was asked [...]
British music exports hit a £408m millennium-high note September 6, 2018 Sales of British music abroad have hit their highest rate since 2000 in the last year, totalling a boon of more than £408m for the UK music industry. The British Phonographic Industry (BPI) will reveal later today that overseas revenue for UK music stars rose 12 per cent on the previous year, powered by demand [...]
Facebook and Twitter grilled under the Senate spotlight over social media abuse September 5, 2018 Silicon Valley heavyweights Facebook and Twitter faced a grilling from US senators in an Intelligence Committee hearing earlier today, pushing tech stocks down on Wall Street. Twitter's share price tanked more than five per cent, while Facebook's dropped 2.3 per cent. Meanwhile, Netflix and Snapchat shares both fell by more than four per cent. In [...]
Ed Sheeran promoter sued by Viagogo September 4, 2018 Ticket reselling site Viagogo has launched legal action against Ed Sheeran's promoter for allegedly ripping off thousands of fans. The company claimed in a statement today that Stuart Galbraith, founder of music promoter Kilimanjaro Live, confiscated authentic tickets bought through Viagogo and forced customers to buy new ones. The first ticket was then not refunded, according to [...]
Magazine publisher Future looks ahead as earnings tipped to beat market expectations September 3, 2018 Future said today its full-year earnings should beat market expectations, fuelled by three acquisitions as it bought up rivals and expanded into the US. The specialist media publisher credited the World Cup and larger-than-expected product launches for its performance in the 12 months to the end of September in today’s trading update. What Hi-Fi?, FourFourTwo, [...]
The media’s greatest enemy isn’t Trump, it’s the tech titans September 3, 2018 What is the biggest threat to the future of the media: President Donald Trump, or Silicon Valley? In the presidential corner, Trump’s regular attacks on the “fake news media” have provoked a robust response. This summer, newspapers coordinated a string of editorials defending the essential role of the press as a lens on power and [...]
WPP confirms Mark Read as top boss Sir Martin Sorrell’s replacement September 3, 2018 WPP has confirmed the appointment of Mark Read as chief executive of the world's largest marketing agency, replacing its founder Sir Martin Sorrell who left the role in April. Read had long been the bookies' favourite for the position, although other top names such as IBM's David Kenny and industry veteran Hamish McLennan had also [...]
