Warner Music Group Looking To Acquire Front Line Management; AEROSMITH, VAN HALEN Affected
April 21, 2007, 17 years ago
According to Fortune/CNN, Warner Music Group...is inching toward a deal to acquire Front Line Management, the nation's largest artist management firm, owned by the famed manager Irving Azoff (and Howard Kaufman). The firm represents a slew of big-name artists, everyone from CHRISTINA AGUILERA to VAN HALEN to AEROSMITH. The deal has been rumored for months within the industry, but sources tell me that talks have lately gained momentum."
Internetfinancialnews.com comments: With revenues falling, major labels are smartly looking at new models. Since in a digital landscape distribution matters much less, labels are trying to figure out how to better monetize their other asset - marketing muscle.
"If the investment required to establish a band is the same, but the rewards to record companies are dwindling, than we have to be willing to explore new economic relationships," says Entertainment Atty. Fred Davis. "That may include participation in other non-recorded music streams of income."
