SESAC, the alternative to non-profit performing rights collection organizations ASCAP & BMI, is for sale. A number of marquee artists including Bob Dylan and Lady Antebellum use the company to negotiate licenses with radio stations, TV networks, film studios and performance venues. Goldman Sachs has been hitred by media investment bank Allen & Co. and hedge fund Och-Ziff to try to fetch $500 million for the Nashville-based company.
The recording industry considers filing a lawsuit against Google for allegedly abusing its dominant market position to distort the market for online music. Industry groups including IFPI and the RIAA want Google to degrade links to “pirate” websites in its search results. A “Voluntary Code of Practice” suggested by the entertainment industries last month revealed that the IFPI and RIAA want all search engines to de-list popular file-sharing sites such as The Pirate Bay, and give higher ranking to ‘legal’ alternatives.