When it comes to M&A activity, you have to love the music business for its never-ending swirl of deal-making.
Citigroup’s deal to sell Universal and Sony pieces of EMI is hardly the end of the story.
KKR-Bertelsmann’s venture BMG Rights may have been locked out of that deal, but it surely has some options, particularly given a regulatory process that may end up forcing a sale of assets in certain countries.
Our sources suggest that BMG is tossing around the possibility of buying Warner Music’s publishing operation from Len Blavatnik.
While some think that Blavatnik will have a tough time making his $3.3 billion Warner acquisition pay off, several sources tell us there is a close to zero chance Blavatnik is a seller, and besides, its publishing chief, Cameron Strang, is well regarded. Meanwhile, we’re waiting to hear what Universal is thinking when it says it will be shedding a host of minority-owned assets in order to pay for its deal to buy EMI’s recorded business for $1.9 billion.
And another open question: When will Warner Music Group Chairman Edgar Bronfman be stepping down from the company? We’re hearing he’s in no rush to exit until his path to a new venture is a bit clearer. Claire Atkinson
Hunger fighter
Lauren Bush, the former fashion model turned social entrepreneur, is tackling New York hunger with her latest FEED bag.
The former first granddaughter co-founded FEED Projects in 1997 with the UN World Food Program and has raised money for millions of meals in countries including Kenya, Guatemala, Japan and Haiti.
The newly married Bush said she realized New York families are hurting too, and has launched a bag that will be help local families.
“The FEED NYC bag is not only a tribute to the resilience of New York City — it is a stylish purchase that helps fight hunger on our own streets, in our community,” a FEED spokeswoman told On The Money.
Each FEED NYC bag costs $42 and will provide eight meals to hungry New Yorkers through the Robin Hood Foundation, which is the largest private supporter of food programs in Gotham.
Last year, 1.4 million New Yorkers — that’s 1 in 6 of us — relied on a soup kitchen.
“Many of those seeking help are working parents who are forced to make the impossible choice between paying rent and buying food,” the spokeswoman said.
Information on the project can be found on the FEED Web site: http://www.feedprojects.com. Julie Earle Levine
Taking their shot
Blowing a cool million on a Rodeo Drive shopping spree has become, well, uncool.
The hottest celebrity trend is investing — mostly in upstart tech companies.
Ashton Kutcher is the godfather, plunking down wads of cash on a dozen companies like Foursquare, Path, Flipboard and Airbnb, where he serves as a strategic adviser.
Celebs are using Twitter and other social-media outlets to boost their portfolios in addition to their egos.
The new boldface names on the list include Lady Gaga and Kanye West, who combined to invest $7.5 million in Turntable.fm.
Selena Gomez, the 19-year-old Disney alum, could have easily blown some of her estimated $10 million on a sports car or gift for boyfriend Justin Bieber. Instead, she followed the recent trend and plunked down $750,000 along with other investors from CrossCut Ventures, to back Postcard on the Run.
Postcards, you say? Yes, they still exist. And yes, this is a lucrative business.
The global greeting-card market is estimated to hit $31 billion by 2012, and Gomez has put herself in position to cash in, investing in a system that allows you to take photos off your smartphone and convert them into real-world postcards for about a buck a pop. No printing, no mailing.
Attention, Hallmark: Pay close attention so you don’t become the next US Postal Service. Joseph Barracato
Silicon screen
It’s never too soon.
On The Money hears that Hollywood is all abuzz about a Steve Jobs biopic. Reports say that George Clooney, 50, and Noah Wyle, 40, are both rumored to be vying for the lead role.
The two actors co-starred in the late-’90s TV show “ER.”
Wyle is a Jobs veteran, having played the Apple co-founder in the 1999 TV movie “Pirates of Silicon Valley,” which told the story of the development of the PC and the bitter rivalry between Apple and Microsoft. Post staff