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China-based titan Tencent Music Entertainment (TME) has been expanding its international reach for the past several years. With online music, live-streaming and karaoke services, TME’s 2020 revenues were $4.5 billion (live-streaming and karaoke accounted for 72% of this) with a market capitalization of $51.8 billion. As part of its expansion, TME and its parent company Tencent Holdings now own a 20% equity stake in Universal Music Group and 10% of Warner Music Group in the United States.
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By Stan Soocher
The significance of the U.S. Tax Court decision for celebrities and their estates is clear: Prior to now, as Tax Court Judge Mark V. Holmes noted: “We haven’t had a case directly addressing the taxability of the image and likeness.”
By Scott Graham
Maybe the U.S. Court of Appeals for the Second Circuit should have been a little more patient.
By Jason Grant
In a split decision that closely examined what constitutes a person being considered a limited public figure for the purposes of defamation standards, the New York Appellate Division, First Department, ruled that acclaimed music producer Lukasz “Dr. Luke” Gottwald is neither a general nor a limited public figure for the purposes of his defamation suit against famed singer Kesha, who has claimed Gottwald drugged and sexually assaulted her.
By Ross Todd
When NBA star Jimmy Butler’s former sports agency sued him last year seeking a portion of the proceeds from a $5 million Nike endorsement contract, Butler’s lawyer didn’t just stick to playing defense.