Internet Radio Royalty Hike Battle Addressed By Congress
The Online Radio royalty debate is not dead due to a new bill introduced in the US Congress by Representatives Jay Inslee (D-WA) and Donald Manzullo (R-IL) dubbed “The Internet Radio Equality Act.” The bill was crafted to put a hold on the recent rate increases imposed by the US Copyright Royalty Board (CRB). The lobbying efforts of the Digital Media Association (DiMA), which promotes the agenda of Yahoo, AOL, and...
Private-Equity Firms Buys Out Harman International For $7.8 Billion
Harman International has agreed to by acquired by private-equity firms Kohlberg Kravis Roberts and GS Capital for $8 billion. Under terms of the deal, Harman shareholders can either exchange their shares for $120/share in cash, or take shares in the new company after the closing of the deal, which is expected to occur in the third quarter of 2007. The per-share bid represents a 17% premium to Wednesday’s closing price of...
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