Archive

Reuters blog archive

from Breakingviews:

Henry Kravis spins a different kind of club deal

By Jeffrey Goldfarb

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

Henry Kravis is spinning a different sort of club deal. The old kind, in which several private equity shops would make an acquisition together, led the buyout baron’s KKR to join the recent hefty settlement of a lawsuit that alleged collusion with other firms. In the new iteration, KKR buys Pioneer’s DJ audio equipment business for $550 million. Kravis is laying down a smooth groove in a funky M&A market.

For KKR’s latest trendy investment, Abenomics meets Ibiza. Under Prime Minister Shinzo Abe, it has become easier for Japanese companies to break with corporate norms that discourage offloading divisions or welcoming foreign buyers. KKR seized a similar opportunity last year when it agreed to acquire Panasonic’s healthcare division for $1.7 billion.

Betting on selling the modern-day equivalent of gold-rush pickaxes to participants in the rave rush of Electric Daisy Carnival and clubs like Booom Ibiza also fits KKR’s new quest for the next big thing. In a series of departures from its traditional buyout model, the firm recently took a minority stake in home automation firm Savant, backed fantasy sports startup FanDuel and invested in British online retailer Hut Group.

from Photographers' Blog:

Singing from the heart

Beijing, China

By Jason Lee

Every night from 7pm until around midnight, anyone in Beijing who craves a bit of music can go and enjoy an “open-air concert” in the southeast of the city.

Street musician Zhang Mingyuan sings during his daily performance at a square outside a shopping mall in Beijing

The singer, Zhang Mingyuan, isn’t part of a famous music label and his performances are just held on a street corner. But even so, the warm atmosphere that he creates in the chilly night air seldom disappoints.

from Photographers' Blog:

A taste for music

Haguenau, France

By Vincent Kessler

I love cooking and I have a passion for music. What then could please me more than an orchestra that plays music with instruments made out of vegetables?

I cannot remember when I first heard about the Vegetable Orchestra. But when I realized that they were planning to hold a concert some 40 kilometers from my home, I got in touch and was given the opportunity to watch them prepare for a performance.

from Photographers' Blog:

Marching to Sousa’s drum beat

Washington, D.C.

By Jonathan Ernst

One of the great things about Washington is historic Capitol Hill, where there’s a lot of life beyond the headlines and punch lines about the U.S. Congress. I like to describe it as a small town attached to the city. We know our neighbors. We walk our dogs.

Sure, our neighbors include senators and congressmen, and every once in a while at the grocery store you’ll find yourself in line behind a woman who happens to be the Secretary of Health and Human Services holding the bouquet of flowers she’s picked out, or a guy who happens to be the director of the CIA as he’s making a selection at the olive bar. But at that moment, they’re just neighbors. They probably walk their dogs too. While a security detail in a large black SUV watches from a discreet distance.

from Breakingviews:

Wall Street lets itself go for dance rave IPO

By Rob Cox
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Investors shelled out $260 million to get past the velvet ropes and into the debut of SFX Entertainment, Robert Sillerman’s electronic dance music promotion roll-up that priced at $13 a share on Tuesday only to trade down sharply the next morning. The best explanation for Wall Street’s over-enthusiasm may be the “my grandson likes that Skrillex guy” school of stock investing.

from Photographers' Blog:

The marketing of Miley

New York City, New York

By Lucas Jackson

Does anyone remember what happened during the MTV Video Music Awards in 2012? How about 2011? I would wager that the last thing you remember from any MTV video related anything would be when Kanye West walked up and snagged the microphone away from poor Taylor Swift in 2009.

Guess what, someone was counting on that this year. I haven’t a clue who, it might be MTV or Robin Thicke or most likely Miley Cyrus but someone was counting on creating one of these exciting “moments” for people to talk about the next day and boy did they hit the ball out of the park. I cover a fair amount of live music. I am not a concert photographer and I don’t go to every music festival but I cover enough to know when I see a performer putting on a good show. Lady Gaga almost always does it, she has the theatrics down.

from Photographers' Blog:

Vinyl’s not dead, long live vinyl

Lodenice, Czech Republic

By Petr Josek

The good old times are probably, definitely, gone and the world and all its information will soon fit into mobile phones. You read papers on your mobile phone, you pay in stores by mobile phone, watch movies, chat with friends, take photographs, play games and, alongside many other applications offered in modern times, you also listen to music from your mobile phone.

The time when you sat at home, lit a candle, opened a bottle of wine and pulled out a nice black vinyl record of your choice to relax is history. But there is still a hope.

from Photographers' Blog:

Woodstock 2013

Kostrzyn-upon-Odra River, Poland

By Tom Peter

It was a sweltering hot day and already late in the afternoon when I reached the small Polish border town of Kostrzyn-nad-Odra, home to the Woodstock Station rock festival. As I made my way along a forest road towards a military base on its outskirts, I passed scores of bare-chested men who lay dotted around in the shade, having clearly succumbed to a mixture of heat and hard liqueur. I approached the throbbing roar of guitars beyond the forest with some apprehension, believing I was in for a night of testosterone-induced aggression. I couldn't have been more wrong.

When I stepped out into the clearing I found myself at the edge of a mud mosh pit the size of a tennis court, with a few dozen boys and girls in swim suits going absolutely bonkers to the sound of a Polish punk band. Beyond it there was the main stage towering over a billowing cloud of dust thrown up by thousands of dancing metal-heads who were going equally off the rails.

from Breakingviews:

Music raves better off in clubs than Wall Street

By Rob Cox and Pierce Crosby
The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

 

Robert F.X. Sillerman wants to throw Wall Street’s biggest dance party. The entrepreneur who rolled up the rock concert business is trying to do the same for electronic dance music with a planned $175 million public offering of SFX Entertainment. Though Sillerman’s track record is good and he’s targeting a hot slice of the music industry, this bash promises to be more fun for partygoers than investors.

from Photographers' Blog:

Beware of Englishmen in Civvies

Novi Sad, Serbia

By Marko Djurica

At the Exit Festival in Serbia’s second city Novi Sad, you won’t find any signs pointing the way to the closest place to egress, but only signs for “emergency escape.” It is intentional so that concertgoers don’t get confused that the party continues outside the fence, but I came to see it as a hidden message.

The festival is held on the grounds of Petrovaradin, a medieval fortress on the banks of the Danube River, and has been drawing crowds from the region and from Europe for over 14 years. The original festival grew out of a post-war student protest movement against the regime of former Serb strongman Slobodan Milosevic. The name was meant to be a clear call for the Milosevic regime to step down and for society to leave the consequences of a terrible dark decade behind. The festival climaxed in the mid 2000s when it was recognized as one of Europe’s top ten festivals. Since then, it has all been downhill.

  •