featured News Trending

Universal Music Rejects Bill Ackman’s $64 Billion Takeover Bid

By 82 0

Universal Music Group has rejected a $64.3 billion takeover proposal from billionaire investor Bill Ackman’s firm, Pershing Square, stating that the offer significantly undervalues the company. Universal’s board said the bid was not in the best interests of shareholders, artists, employees, fans, or other stakeholders, reaffirming confidence in the company’s long-term growth strategy.

Pershing Square, which already owns a stake in Universal, launched the bid in April with plans to relist the music giant in the United States. Ackman argued that Universal’s share price had underperformed due to factors unrelated to its core music business, including ownership structure concerns and delays in pursuing a New York stock market listing. However, major shareholder Bolloré Group had also opposed the proposal, claiming it did not reflect the company’s true value.

Universal, home to some of the world’s biggest artists and music labels, said it remains focused on expanding its leadership in the global music industry through innovation, artist development, and stronger fan engagement. The company also pledged to provide more detailed financial disclosures in the future, while continuing to navigate industry challenges such as royalty debates and the growing impact of AI-generated deepfake music.

Pic courtesy: google/ images are subject to copyright

featured News Trending

Shakira Wins €55m Tax Refund in Spain Case

By 124 0

A Spanish high court has ruled in favor of Colombian pop star Shakira, ordering the country’s tax authority to refund €55 million (£48 million) after determining the money was wrongly collected. The court said authorities failed to prove that the singer spent the required 183 days in Spain during 2011, meaning she could not legally be treated as a Spanish tax resident for that year.

The refund includes €24 million in income tax payments and nearly €25 million in penalties previously imposed for what tax officials had described as a serious infringement. Shakira welcomed the verdict, saying the decision “finally set the record straight” after years of public scrutiny, legal pressure, and personal stress affecting both her health and family.

The case is separate from Shakira’s earlier 2023 settlement with Spanish prosecutors over tax issues between 2012 and 2014, where she agreed to pay a fine while denying wrongdoing. The latest ruling comes as the global music star prepares to conclude her Women Don’t Cry Anymore world tour with a Madrid residency and upcoming performances linked to the FIFA Men’s World Cup final.

Pic courtesy: google/ images are subject to copyright

featured News Technology

Spanish Prosecutors Drop Investigation Into Julio Iglesias Sexual Abuse Allegations

By 300 0

Spanish prosecutors have dismissed an investigation into sexual abuse allegations made against legendary singer Julio Iglesias, citing a lack of jurisdiction. Authorities ruled that Spanish courts were not competent to investigate the claims because the alleged incidents took place outside Spain and involved complainants who are neither Spanish citizens nor residents. The women also had no connection to Spain through travel or employment with the singer.

The complaints were filed earlier this month by two former female employees who alleged that Iglesias created a coercive and abusive environment while they worked at his properties in the Bahamas and the Dominican Republic in 2021. The case was submitted to Spain’s national court, which handles crimes committed abroad, with support from advocacy groups including Women’s Link Worldwide and Amnesty International. These groups argued the alleged acts could amount to human trafficking and sexual violence, involving vulnerable workers dependent on their wages.

However, prosecutors concluded that the principle of universal jurisdiction did not apply in this case and said the countries where the alleged incidents occurred had the authority to investigate the claims themselves. Iglesias, 82, has strongly denied the accusations, calling them “absolutely false” and expressing sadness over the allegations. The globally renowned artist, who has sold more than 300 million records, is also the father of singer Enrique Iglesias.

Pic courtesy: google/ images are subject to copyright

featured News Trending

AI-Generated Song Barred from Sweden’s Official Music Charts

By 295 0

An AI-created folk-pop song that topped Spotify’s Sweden Top 50 has been barred from the country’s official music charts, reigniting debate over artificial intelligence and creativity. The track, Jag vet, du är inte min (“I Know, You’re Not Mine”), performed by a digital artist named Jacub, amassed over five million streams within weeks, making it Sweden’s biggest song of 2026 so far. However, Sweden’s music industry body ruled that the song does not qualify for chart rankings because it was primarily generated using AI.

Investigations by journalists revealed that Jacub is not a conventional artist, with no public performances or social media presence. The song is linked to executives at Denmark-based Stellar Music, including members of its AI division. The producers, calling themselves Team Jacub, argued that AI was only a tool in a human-led creative process and said the song’s popularity proved its artistic value. They described Jacub as an “artistic project” driven by real human emotions and experiences.

The explanation failed to convince IFPI Sweden, which enforces a rule excluding mainly AI-generated music from its national charts. The decision comes as Sweden positions itself at the forefront of the AI economy, even as creators warn of revenue losses from AI-generated content. While organisations like Billboard allow AI-generated tracks if they meet performance criteria, Sweden’s tougher stance highlights growing global divisions over how AI-made music should be recognised and regulated.

Pic Courtesy: google/ images are subject to copyright