Rumor: Michael Jackson podria fundar nueva discografica
Esto es lo que dice la columna diaria de Roger Friedman sobre la posible fundacion de una nueva discografica por parte de Michael con el apoyo de una empresa llamada Opus Media. De este individuo no me fio un pelo, pero parece ser que la noticia tambien ha aparecido en otros medios de comunicacion. Ya veremos...
Ahora no tengo tiempo para traducirlo, a ver si alguien se anima!
Michael Jackson to Start New Record Label
Jacko's backo. He's starting a new record label with the backing of a company that changed its name today from ID Medical Group to Opus Media.
A music business Web site, Hitsdailydouble.com, speculated that Jackson might be involved when Opus issued a press release today stating that they'd gone into business with a major pop star.
But a check by Fox 411 into the financial filings of ID Medical shows that back in May, when Jackson was freaking out about money and Tommy Mottola, he was busy making the deal with ID Medical's Robert Gordon.
From ID Medical's May SEC filing:
"The Label Agreement contemplates that ToolTrust and MJJ Ventures will form a California Limited Liability Company to operate a music label, tentatively called "Neverland Records." ...
"The Label Agreement provides recording artist Michael J. Jackson with discretion to grant or deny approval of any artist seeking to sign a recording agreement. Mr. Jackson also shall have final approval of all creative elements in connection with master recordings and videos. Ultimately, however, Mr. Jackson's level of participation with the music label (or none at all) shall be determined at his sole discretion. MJJ Ventures may "opt-out" of the Label Agreement if the music label is unable to secure a distribution deal or the music label has not substantially satisfied any material goals set forth in its business plan. Mr. Jackson may opt-out for any reason after three years. In any such case, ToolTrust is obligated to buy out MJJ venture's interest in the music label. "
What's very strange about this endeavor is that ID Medical may be risking its profitable online medical identification business if Jackson's venture proves to be a failure.
According to the same filing:
"The Company is in immediate need of funding to complete the music label venture described above and to carry out day-to-day operations, including funding of the online medical records business. If the Company does not secure financing to sufficiently fund operations, it may lose all amounts paid to MJJ Ventures. There can be no assurance that financing will be available when needed or on terms acceptable to the Company. There can be no assurance that the Company will be able to continue as a going concern, or achieve material revenues and profitable operations."
And here's another update on Michael Jackson's new label: Word is that Jackson's producer Rodney Jerkins will be in charge of the label, which may be distributed by Clive Davis's J Records. More to come...
Esto es lo que dice la columna diaria de Roger Friedman sobre la posible fundacion de una nueva discografica por parte de Michael con el apoyo de una empresa llamada Opus Media. De este individuo no me fio un pelo, pero parece ser que la noticia tambien ha aparecido en otros medios de comunicacion. Ya veremos...
Ahora no tengo tiempo para traducirlo, a ver si alguien se anima!
Michael Jackson to Start New Record Label
Jacko's backo. He's starting a new record label with the backing of a company that changed its name today from ID Medical Group to Opus Media.
A music business Web site, Hitsdailydouble.com, speculated that Jackson might be involved when Opus issued a press release today stating that they'd gone into business with a major pop star.
But a check by Fox 411 into the financial filings of ID Medical shows that back in May, when Jackson was freaking out about money and Tommy Mottola, he was busy making the deal with ID Medical's Robert Gordon.
From ID Medical's May SEC filing:
"The Label Agreement contemplates that ToolTrust and MJJ Ventures will form a California Limited Liability Company to operate a music label, tentatively called "Neverland Records." ...
"The Label Agreement provides recording artist Michael J. Jackson with discretion to grant or deny approval of any artist seeking to sign a recording agreement. Mr. Jackson also shall have final approval of all creative elements in connection with master recordings and videos. Ultimately, however, Mr. Jackson's level of participation with the music label (or none at all) shall be determined at his sole discretion. MJJ Ventures may "opt-out" of the Label Agreement if the music label is unable to secure a distribution deal or the music label has not substantially satisfied any material goals set forth in its business plan. Mr. Jackson may opt-out for any reason after three years. In any such case, ToolTrust is obligated to buy out MJJ venture's interest in the music label. "
What's very strange about this endeavor is that ID Medical may be risking its profitable online medical identification business if Jackson's venture proves to be a failure.
According to the same filing:
"The Company is in immediate need of funding to complete the music label venture described above and to carry out day-to-day operations, including funding of the online medical records business. If the Company does not secure financing to sufficiently fund operations, it may lose all amounts paid to MJJ Ventures. There can be no assurance that financing will be available when needed or on terms acceptable to the Company. There can be no assurance that the Company will be able to continue as a going concern, or achieve material revenues and profitable operations."
And here's another update on Michael Jackson's new label: Word is that Jackson's producer Rodney Jerkins will be in charge of the label, which may be distributed by Clive Davis's J Records. More to come...
