Madonna’s landmark deal with concert promoter Live Nation Inc. marks the latest move by the music industry to find new ways to profit from artists as CD sales slip and the Internet changes the way music is delivered. The deal – officially announced Tuesday in a joint statement by Live Nation and the Material Girl – gives the company an all-encompassing stake in her music. Financial terms were not disclosed. But the 10-year deal is worth about $120million, said a person who spoke on condition of anonymity because of the confidential nature of the matter. For Live Nation, the signing of Madonna was part of a push to forge similar deals with a range of artists, from superstars to emerging talent, under its new Artist Nation division. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREGame Center: Chargers at Kansas City Chiefs, Sunday, 10 a.m.“Madonna is the first step to making Live Nation into the next-generation music company,” Live Nation CEO Michael Rapino said during an investor conference call. “We believe it should help attract additional artists.” The strategy has been adopted by other recording companies. Britain’s EMI Group PLC signed a similar all-encompassing rights deal with Robbie Williams in 2002. Madonna made her move after her longtime record company, Warner Music Group Corp., refused to match the terms of the Live Nation offer. Madonna said in the statement that she was drawn to the deal with Live Nation because of the changes the music business has undergone in recent years. “The paradigm in the music business has shifted, and as an artist and a businesswoman, I have to move with that shift,” Madonna said. “For the first time in my career, the way that my music can reach my fans is unlimited. I’ve never wanted to think in a limited way and with this new partnership, the possibilities are endless.” The singer still owes Warner Bros. Records another studio album and a greatest-hits album. In its own written statement, Warner Music congratulated Madonna. “She is one of the most remarkable artists of our time,” the company said, reminding her fans that Warner Music will still issue her next album and owns her catalog of recordings from the past 25 years. The deal with Live Nation encompasses future music and music-related businesses, including the Madonna brand, albums, touring, merchandising, fan club and Web site, DVDs, music-related television and film projects, and associated sponsorship agreements, the company said. Under terms of the deal, Madonna, 49, would receive a signing bonus of about $18million and a roughly $17million advance for each of three albums, the person said. A portion of the compensation would involve stock. Madonna could also benefit significantly from the touring component of the agreement, which gives Live Nation the exclusive right to promote her tours, the person said. The company said it could release its first Madonna album in two to three years and stage a tour within two years. The deal has gotten mixed reactions on Wall Street, with some analysts questioning whether Live Nation can squeeze out a significant profit. Shares of Live Nation rose 3cents to $21.45 on Tuesday. Rapino said he doesn’t understand Wall Street’s skepticism. “I’m amazed that our stock hasn’t jumped considerably in that we’re absolutely delivering what we talked about for two years,” he said, referring to Live Nation’s efforts to grab a bigger slice of the music business beyond touring. Madonna’s last tour generated nearly $200million globally, and her last album, “Confessions on a Dance Floor,” sold nearly 8million copies worldwide, Live Nation said. Still, artists generally get 90percent of ticket sales from tours, with promoters taking the rest. Album sales, meanwhile, have been in decline for most of the decade and digital sales, while growing, remain a fraction of recorded music sales. Madonna would have to stage several successful tours, release a few albums and pull in significant other revenue for Live Nation to recover the money it must pay the singer.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!
Tata Consultancy Services (TCS), India’s largest software services exporter, added more employees during the recently-concluded financial year than Infosys and Wipro put together. Mumbai-based TCS added 34,187 employees on a net basis when compared to 32,552 by rivals Infosys (17,857) and Wipro (14,695).The companies disclosed their employee addition and attrition rates along with their financial results.”TCS completed its highest ever hiring of over 90,000 new employees globally during the year. We are also delighted that our employee retention continues to increase as we continue to invest in building digital skills of TCSers to help them participate extensively in the new digital economy,” said Ajoy Mukherjee, executive vice president and global head of Human Resources at TCS, said in a statement while declaring results on Monday.The company’s workforce comprised of employees drawn from 129 countries. Also, 33.8 percent of its employees were women professionals as on March 31, 2016. All the three companies declared their fourth quarter and full-year results in the past couple of days, the last being Azim Premji-controlled Wipro that announced its results on Wednesday.Also Read: Wipro Q4 net profit falls 1.6%The net addition during the fourth quarter ended March 31, 2016 was 9,152, more than double the numbers recruited by Infosys (661) and Wipro (2,248) on a net basis. The combined headcount of the three software services exporters was 7,20,799 as on March 31, 2016, up 66,739, or 10.20 percent, from 6,54,060 at the end of the previous financial year.Also Read: Wipro announces decision to buy back 40 million sharesAttritionIn Q4, attrition 14.9 percent in Wipro, 17.3 percent in Infosys and 14.7 percent in TCS.Also Read: TCS Q4 net profit rises 64.4%, revenues up 17.5%Share pricesOn the first day of trading after the declaration of results of all the three companies, their stocks witnessed a sharp divergence.On Thursday, at around 3.15 p.m. on the BSE, Infosys was down 1.38 percent to Rs. 1,226.15, TCS was trading 1.14 percent lower at Rs. 2,424 and Wipro had plunged 7.12 percent to Rs. 558.55. All the three are Sensex stocks.Also Read: Infosys ADRs rise 8% on Nasdaq, employees get 6-12% salary hike
Venezuelans line up as they wait for a free lunch at the “Divina Providencia” migrant shelter outskirts of Cucuta, on the Colombian-Venezuelan border, Colombia on 13 February 2019. Photo: ReutersVenezuela’s opposition leader Juan Guaido took another step Wednesday in an international bid to economically starve president Nicolas Maduro’s regime, announcing the appointment of a new board for Citgo, the US-based arm of state oil firm PDVSA.Guaido—who has been recognised as acting president by more than 50 countries and also heads the opposition-controlled National Assembly legislature, which appointed the new board—is locked in a battle with Maduro for control of the crisis-hit country.The United States, which is leading the push to topple Maduro, has sanctioned key regime financial assets including Citgo, and on Wednesday president Donald Trump once more refused to rule out military action against the leftist leader.Announcing the new six-member board on Twitter, Guaido said it “will be made up of qualified Venezuelans, who are free of corruption and without any partisan affiliation.”“With this decision, we are not only protecting our assets, we are avoiding the ongoing destruction and loss of the business,” said Guaido, who declared himself interim president after incumbent Maduro announced victory in polls the opposition said were rigged.The previous board was named by Maduro, who has presided over the economic collapse of Venezuela.The country is wracked by recession and hyperinflation, while millions of people are suffering from shortages of basic necessities such as food and medicine.‘US blockade’Venezuela earns 96 per cent of its revenues through oil but its production has dropped to a 30-year low of 1.1 million barrels a day.The US was its biggest single customer, buying almost half of its production, which represented 75 per cent of the country’s liquidity.Caracas says the “US blockade” has cost it $30 billion.In announcing the latest raft of sanctions last month, US Treasury Secretary Steven Mnuchin said Citgo can continue to operate, but its earnings must be deposited into a blocked account in the United States, out of reach of Maduro’s regime.As Venezuela’s opposition moved to replace Citgo’s leadership, Trump was hosting Colombia’s president Ivan Duque for talks on the crisis gripping its Latin American neighbour.Declaring himself “sad” about the “turmoil” in the oil-rich nation, Trump demanded that Maduro unblock US aid shipments to the country, sitting on the Colombian side of the border.Key to Guaido’s strategy to oust Maduro is bringing in the aid that has been blocked by Venezuela’s military, at Maduro’s behest.Success would demonstrate to Venezuela’s people that Guaido is able to meet their needs.Maduro says the aid is a “political show” and would be a prelude to a US invasion.“You’ll see,” Trump told reporters at the White House when asked if thousands of US troops could deploy.Duque, whose country has taken in large numbers of Venezuelan refugees, also lambasted Maduro, saying that “obstructing the access of humanitarian aid is a crime against humanity.”‘Feast of hatred’“I think he’s making a terrible mistake” by not letting in the aid, Trump said of Maduro.“We’re trying to get food to people that are starving. You have people starving in Venezuela.”Maduro hit back at the two leaders, terming the meeting a “feast of hatred” and warning: “Hands off Venezuela.”At a huge opposition rally on Tuesday, Guaido vowed that humanitarian aid would enter the country on 23 February.“We have almost 300,000 Venezuelans who will die if the aid doesn’t enter,” he said.In his latest attempt to erode Maduro’s authority over the military, Guaido added: “Here is a direct order to the armed forces: allow in the humanitarian aid once and for all (and) end the repression.”Guaido’s team has met with Brazilian officials to set up a second aid storage centre on that border. The new right-wing government of President Jair Bolsonaro in Brazil has joined the growing coalition against Maduro.But Maduro has so far resisted, portraying himself in the mold of historic Latin American anti-imperialist leaders.He has backing from Russia and China, as well as his armed forces.Moscow weighed in on Tuesday, with foreign minister Sergei Lavrov warning “against all interference in Venezuela’s domestic affairs, including the use of force threatened by Washington.”There have been growing rumours about possible US preparations for some kind of military involvement ever since Trump’s hawkish national security advisor John Bolton was photographed with a notepad reading “5,000 troops to Colombia?”However, on Wednesday the State Department point man for Venezuela, Elliott Abrams, played down the idea.Military intervention “is not a path that the US government is pursuing,” he said. “I don’t see a reason” for the use of force.
X Lawson Craddock continues his race to Paris.The Tour de France cyclist from Houston is fighting a broken shoulder blade that he suffered during a crash early on but refuses to give up.With a week left in the Tour de France, Craddock remains last in the overall standings but he said the pain from his injury is getting more manageable. “Pretty happy about how the injury is progressing,” he said on the phone from the French Alps. “And I really hope that I can keep going this way and maybe do something in the final week of the race.”Meanwhile, donations from fans are pouring in.Craddock is raising money for the Alkek Velodrome in west Houston.The Velodrome suffered bad losses during Harvey. It’s where Craddock got his start as a cyclist more than 15 years ago.His initial goal was to raise $2,100.As of Friday evening, his GoFundMe page registered more than $114,000. 00:00 /00:41 Share CABS Chamalieres MercerDuring the first stage of the Tour de France, Lawson Craddock suffered a fractured shoulder blade and a bad cut above the eye. Listen To embed this piece of audio in your site, please use this code:
One of the renowned Indian fashion duo- Rohit Gandhi and Rahul Khanna has completed 19 years of creative partnership this year. The designers have made their mark in contemporary prêt wear for both men and women who wish to break the stereotype in clothing and experiment with distinct textures and engineered designing. Their designs pay great emphasis on silhouettes and detailing which draw inspiration from in ear structures, geometrical lines and are greatly influenced by modem contemporary art. They also specialise in BeSpoke men’s couture with a precision fit for the modern men. Also Read – ‘Playing Jojo was emotionally exhausting’The partners have been awarded the ‘Best Pret Collection’ for Men and Women apparel on numerous platforms on various occasions. Rohit Gandhi and Rahul Khanna have also been awarded the prestigious ‘GQ- Designers of the year’ title. Apart from showcasing their work in every season at the Indian Fashion Week, they are also regulars at several international trade fairs, namely Coterie in New York, Tranoi and Who’s Next in Paris.The label retails through their three stand-alone stores along with multiple boutiques and multi-designer stores across the country. The duo is the only Indian design label to collaborate with leading corporate apparel brwands, namely Van Heusen and Wills Lifestyle with an extended reach of over 100 stores all over the country. Also Read – Leslie doing new comedy special with NetflixInternationally the labels available at leading stores like Harvey Nichols, VAKKO, Tootsies, Sun Motoyama, Anthropologic, Salma, Ere, Lilian Rome among others. Their collection was even displayed at the show windows of prestigious Selfridges London.Rohit Gandhi and Rahul Khanna clentele’s vary from all walks of life. Their label is also the most preferred brand when it comes to styling prominent faces of national and international celebrities from the film and music industry. Rohit Gandhi and Rahul Khanna beieve in curating garments which are timeless and elegant. They believe in them and their potential to change people’s lives.
In yet another season of spellbinding productions and engaging interactive sessions with legendary theatre experts, the National School of Drama (NSD), an autonomous institution under the Ministry of Culture, Government of India, inaugurated the 20th edition of Bharat Rang Mahotsav (BRM) in the national capital. 21-day-long theatre extravaganza will culminate in New Delhi on February 21.The Minister of State for Culture (I/C), Governmant of India, Dr Mahesh Sharma, inaugurated the nationwide theatre spectacle at Kamani Auditorium in a program presided over by Dr Arjun Deo Charan, Acting Chairman, NSD Society. Renowned danseuse and theatre artiste, Dr Sonal Mansingh, eminent theatre director and former Director of NSD, Professor Ram Gopal Bajaj were the guests of honour at the inauguration function where Secretary, Ministry of Culture Arun Goel, IAS, was the special guest. Also Read – Add new books to your shelfSpeaking at the function, Dr Mahesh Sharma, said, “This country applauds those who give back to the society. A population of 132 crores is bound together by culture and art. Our art is our lifeline. We should use the power of art for the sake of humanity. Theatre Olympic helped create a new identity and BRM helped consolidate it. I request the Chairman and Director to change 20-25% invite for people who are new and young.” The festival comes with 111 national and international acts in its basket that includes folk and other traditional theatre forms, invitee plays, and productions by the students of National School of Drama. Also Read – Over 2 hours screen time daily will make your kids impulsiveThe foreign plays to be staged include ‘King Oedipus’ (Bengali; Asim Das), ‘Alien’ (Tatar; Farid Bikchantaev), ‘My Sweet Rotten Heritage’ (English; Anasuya Subasinghe), ‘The Open Couple’ (Bengali; Sara Zaker), ‘Macbeth’ (Bengali; Israfil Shaheen), ‘An Iliad’ (English; Guy Roberts and Rebecca Greene Udden), and more. The folk performances include ‘Sunder Majh Ghar (Jhadi Patti)’ (Jhadi boli; Anirudh Bankar), ‘Abhimanaya Sundari Thirukalyanam’ (Tamil; D. Elumalai), ‘Raja Harishchndra (Maach)’ (Hindi; Babu Lal Dewada), and others. The students of NSD graduate program will grace the festival with acts such as ‘Vacant Lot’ (Apporva), ‘Encryption’ (Susheel Kant Mishra) and ‘Privacy’ (Ajay Khatri). The invitee plays in the festival include ‘Aurat! Aurat! Aurat!’ (Hindustani; Naseeruddin Shah), ‘Nirnoy’ (Bengali; Arun Mukherjee), ‘Prithibi, Rasta, Shabdo’ (Bengali; Rudraprasad Sengupta), ‘Parashuram Vijaya’ (Sanskrit; Ajit Das), and ‘Maya Megh’ (Nepali; Tripurari Sharma) and others. The festival this year commemorates the 150th birth anniversary of Mahatma Gandhi, and will stage four plays based on his philosophy and life. BRM 2019 will also include allied activities such as, ‘Director’s Meet’, ‘Living Legends’, and ‘Master Class’.