label

Billionaire investor Bill Ackman has launched a $65 billion bid to purchase Universal Music, the label representing some of music’s biggest names like Taylor Swift, Kendrick Lamar and Bad Bunny.

As part of the proposed deal, UMG would merge with Ackman’s investment firm, Pershing Square Capital Management, and the company’s stock listing would be relocated from Amsterdam to the New York Stock Exchange.

Pershing Square already holds more than 4.5% of the music giant’s shares. Ackman said the move to a U.S.-based stock exchange would increase the value of UMG .

“UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction,” said Ackman in a statement.

The proposed deal includes Universal Music merging with Pershing Square SPARC Holdings, an acquisition company approved by the Securities and Exchange Commission in 2023. If agreed upon, the proposed transaction could close at the end of the year, according to the company.

Universal Music Group currently has its corporate headquarters in the Netherlands and a local L.A. office in Santa Monica. The label was founded in 1996. Over the years, it’s cemented its reputation as one of the music industry’s “Big Three,” alongside Warner Music Group and Sony Music Entertainment. Universal also controls smaller labels like Republic Records, Interscope Geffen A&M, Capitol Music Group, and Def Jam Recordings.

The news has drawn a level of skepticism, as Ackman will need two-thirds of UMG’s investors to approve the proposed deal, including French billionaire Vincent Bolloré, who is UMG’s largest shareholder with a morethan 18% stake, according to Bloomberg.

If finalized, UMG shareholders would receive €9.4 billion in cash, around €5.05 per share, or roughly $10.9 billion and $5.84 per share.

Investors would receive 0.77 shares in the new merged company. This would value the total consideration package of cash and stock estimated to be worth €30.40 per share, a 78% premium to UMG’s stock price. The transaction will also include the cancellation of 17% of UMG outstanding shares. The new UMG will have 1.541 billion shares outstanding.

UMG’s stock price has jumped over 11% to €19.05 Tuesday morning, due to this potential acquisition.

TAMPA, Fla. — Gov. Ron DeSantis signed a measure into law Monday that gives him along with other Florida leaders the ability to label groups as domestic or foreign terrorist organizations and expel state university students who support them.

The law, criticized by free speech advocates, allows a top official at the Florida Department of Law Enforcement to designate a group as a domestic or foreign terrorist organization, with the governor and three other members of the Florida Cabinet approving or rejecting the designation. Besides the governor, the Cabinet is made up of the attorney general, the chief financial officer and the agriculture commissioner, all of whom are elected separately.

Once designated a terrorist organization, a group can be dissolved and it can no longer receive any state funding through school districts or state agencies. Universities also would have to report the status of expelled students attending on visas to U.S. Immigration and Customs Enforcement.

“So this will help the state of Florida protect you. It’ll help us protect your tax dollars,” DeSantis said at a news conference in Tampa. “It’ll help us protect things that should not be happening in the United States of America, but certainly shouldn’t be happening in the free state of Florida.”

DeSantis in December designated the Council on American-Islamic Relations and the Muslim Brotherhoods as foreign terrorist organizations. A federal judge last month temporarily blocked the enforcement of DeSantis’ executive order.

PEN America, a free speech advocacy group, said the new law has vague language that could restrict education programs deemed to be “promoting” terrorism and that it could target student protesters who criticize Florida officials.

The new law “could chill education at every level,” said William Johnson, PEN America’s Florida director. “The implications are fraught.”

South Korea will remove the “China (Taiwan)” label from its e-arrival system, a foreign ministry official said Tuesday, after Taiwan changed South Korea’s name in its immigration system from “Korea” to “Korea (South)” in protest.

Seoul plans to remove the “last point of departure” and “next destination” fields from e-arrival cards, where the island nation had been listed as “China (Taiwan),” the official told reporters. It will remain listed as Taiwan in the country and region field.

“We have reviewed the matter and are moving forward with plans to remove the ‘last point of departure’ and ‘next destination’ fields from the electronic arrival card,” he said.

The official said the paper arrival cards already do not include those fields, and that the move is part of efforts to streamline the system, improve convenience for visitors from Taiwan, and align the paper and electronic arrival formats.

The Ministry of Justice is handling the matter in line with relevant procedures, the official said.

Seoul’s decision came after Taiwan called for a “correction” in its labeling as “China (Taiwan)” on e-arrivals, saying it has changed South Korea’s name in its immigration system from “Korea” to “Korea (South)” in a reciprocal measure.

Taipei had warned that it would take further corresponding steps if it sees no positive action from Seoul by the end of this month.

Taiwan’s foreign ministry said Tuesday that it has learned Seoul was under an “internal administrative and technical review” to update its e-arrival card system. It said Taiwan will temporarily suspend its own change to the e-entry registration.

Seoul noted that the decision was not made in response to Taiwan’s stated March 31 deadline for possible additional measures over the labeling, but was intended to address the issue in a way that promotes practical, unofficial cooperation with Taiwan.

Taiwan is also reportedly expected to take reciprocal steps to restore “Korea” in its foreign residents’ certificates.

Seoul’s decision to remove the two fields will be applied to all countries.

South Korea severed official diplomatic ties with Taiwan in 1992, when it established formal relations with mainland China. Since then, the two sides have maintained practical ties in an unofficial manner.

China considers Taiwan, self-governed since it broke away from the mainland in 1949, as part of its territory that must be reunified by force if necessary, and it has strongly objected to any country that challenges this stance.

“We maintain necessary communication with China on matters of mutual interest,” the Seoul official added.

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Fine margins are often the difference between a title-winning side and one still building towards it.

Thomas Ramos’ last-gasp penalty to win the championship for France came after a handful of moments England will replay in their minds for a while.

Henry Pollock did brilliantly to steal the ball late on but, instead of taking contact and securing it, he tried to move it and possession was lost.

Ollie Chessum might also look back and think he could have edged a little closer to the posts to make the kick easier for Fin Smith, who himself will be frustrated at leaving points out there.

Those are the moments you write down and burn into your memory, because when they come around again – and they always do in Test rugby – you want the instinct to be automatic.

The best teams make winning those moments a habit.

Just look at South Africa at the 2023 World Cup – three knockout wins by a single point.

That is not luck. That is a team that understand exactly how to manage pressure.

England had been through a sticky spell and this performance gives them something real to build on heading into the summer.

When this squad meet up again for the tour to South Africa, there should be a real sense of belief.

They have shown they can challenge the very best teams in the world. Now it is about learning how to close out those pressure moments when they come.

Another area that will need attention is opposition analysis.

France exposed England a couple of times in the first half with tries straight from set-piece starter plays.

At this level, that is inexcusable. Louis Bielle-Biarrey chasing on to kicks through is something France have done all championship.

Those details matter. Fix them, combine that with the intensity England showed in Paris, and suddenly you have a team not just competing with the best, but capable of beating the best.

POUTING actress Sydney Sweeney does more than just pay lip service to her undies brand by modelling the range.

The 28-year-old was marking SYRN’s role as lingerie partner of US music festival Stagecoach.

Sydney said: “We’re making the festival even better.”

Sydney recently revealed her true bra size, admitting her curves made her insecure until her star rose in Hollywood.

Her role in Euphoria helped her embrace her body exactly how it is, according to the star.

“I grew up with boobs. I was wearing a 32DD in sixth grade, and I never felt confident,” she told the magazine.

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“I never had anything I felt good in, and I just wanted to hide. It wasn’t until [I played] Cassie in Euphoria that I started realizing it’s actually powerful to be confident; our bodies are incredible.

“We should embrace [them] and feel really good in our skin.”

Sydney said that while playing Cassie, she was forced to wear things she typically wouldn’t – revealing pieces that highlighted her ample chest.

“I’d always be like, ‘Oh, this fit doesn’t work’,” she said.

“‘I don’t have the support I want. The straps are digging into my shoulders or it’s kind of itchy and riding up.’

“I started a whole Pinterest board of thousands of photos of inspiration, and I [thought], ‘I should actually do this.’ And we put it together.”

Back in the early 2010s, the music industry was at a low point.

Piracy was rampant. Compact disc sales were on a steady decline. And the then-new audio streaming services, like Spotify, were taking hits from creators for paying low royalty rates.

Today, Spotify has grown into the world’s most popular audio streaming subscription service and the highest-paying retailer globally — paying the music industry over $11 billion last year. The Swedish company said in a recent post that the payouts aren’t strictly going to ultra-popular artists, but that “roughly half of royalties were generated by independent artists and labels.”

“A decade ago, a lot of the questions were really fair. Spotify had to be able to prove out if it could scale as an economic engine. People didn’t know if streaming would scale as a model,” said Sam Duboff, Spotify’s global head of marketing and policy of music business.

Duboff said Spotify’s payouts aren’t “plateauing — we’re still growing that royalty pool on Spotify more than 10% per year.” He credits the streaming platform’s growth to “incentivizing people to be willing to pay for music again” by providing personalized experiences and global accessibility.

The company, founded in 2006, serves more than 751 million users, including 290 million subscribers, in 184 markets.

“The average Spotify premium subscriber listens to 200 artists every month, and nearly half of those artists are discovered for the first time,” Duboff said. “When you build an experience where people can explore and fall in love with music, it inspires them to upgrade to premium and keep paying.”

The platform offers a wide variety of playlists, curated by editors like the up-and-comer-driven Fresh Finds or rap’s latest, RapCaviar. There are also personal playlists generated for users, such as the weekly round-up Discover Weekly and the daily mix of tunes called the “daylist.”

The streamer considers itself the first step toward “an enduring career” for today’s indie artists. Last year, more than a third of artists making $10,000 on the platform in royalties started by self-releasing their music through independent distributors.

“Streaming, fundamentally, is about opportunity and access. It’s artists from all over the world releasing music the way they want to and reaching a global audience from Day One,” Duboff said. He adds that when fans have a choice, they will discover new genres and music cultures that may have otherwise languished in obscurity.

In 2025, nearly 14,000 artists earned $100,000 from Spotify alone. The streamer’s data also show that last year the 100,000th highest-earning artist made $7,300 in Spotify royalties, whereas in 2015, an artist in that same spot earned around $350.

The company, with a large presence in L.A.’s Arts District, emphasizes that the roster of artists on its platform who earn significantly more money — well into the millions — is no longer limited to the few. A decade ago, Spotify’s top artist made around $10 million in royalties. Today, the platform’s top 80 artists generate over $10 million annually. Some of 2025’s top artists globally were Bad Bunny, Taylor Swift and the Weeknd.

Spotify claims those who aren’t household names can earn six figures, with more than 1,500 artists earning $1 million last year.

For some musicians, the outlook is not as clear

Damon Krukowski, a musician and the legislative director for United Musicians & Allied Workers, argues that Spotify’s money isn’t necessarily going to artists — it’s going to their labels.

Those without labels usually upload music through distributors such as DistroKid and CD Baby. These platforms charge a small fee or commission. For example, DistroKid’s lowest-level subscription is $24.99 a year, and the site states users “keep 100% of all your earnings.”

”There are zero payments going directly to recording artists from Spotify,” Krukowski asserts. “Recording artists deserve direct payment from the streaming platforms for use of our work.”

The advocacy group, which has mobilized more than 70,000 musicians and music workers, recently helped draft the Living Wage for Musicians Act to address the streaming industry. The bill, introduced to the U.S. House of Representatives last fall, calls for a new streaming royalty that would directly pay artists a minimum of one penny per stream.

In the Q&A section of Spotify’s Loud and Clear website, the streamer confirms that it “doesn’t pay artists or songwriters directly. We pay rights holders selected by the artist or songwriter, whether that’s a record label, publisher, independent distributor, performance rights organization, or collecting society.”

Instead of following a penny-per-stream model, Spotify pays based on the artist’s share of total streams, called a “streamshare.”

“Streaming doesn’t work like buying songs. Fans pay for unlimited access, not per track they listen to,” wrote the company online. “So a ‘per stream’ rate isn’t actually how anyone gets paid — not on Spotify, or on any major streaming service.”