and yet you are here.
Sir Lucian Grainge, right, with the singer-songwriter Taylor Swift and Scott Borchetta, the American music executive
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Universal Music chief set for ÂŁ105m bonus as shares jump on market debut
Callum Jones, US Business Correspondent
Tuesday September 21 2021, 10.30am BST, The Times
https://www.thetimes.com/business-money/markets/article/universal-music-chief-set-for-105m-bonus-from-float-9xkzlfnwm
https://archive.ph/tZ5Mt
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Sir Lucian Grainge is in line to receive a bonus worth more than £105 million after Universal Music Group’s shares rose by more than a third in its stock market debut in Amsterdam.
Shares in the world’s biggest music label jumped by 39 per cent to €25.70 from its listing price of €18.5 per share, valuing the company at almost €47 billion on the Euronext stock exchange.
The British mogul, who serves as chairman and chief executive of Universal Music, could receive what will be one of the largest corporate payouts on record within weeks as a result of the French media conglomerate Vivendi’s decision to spin off a majority stake in the company.
Vivendi, which has owned Universal Music since 2000, is paying Grainge a share of $150 million and 1 per cent of Universal Music’s equity value above $30 billion, linked to the approximately 60 per cent of equity in the company that is being released in the float.
This special transaction bonus amounts to about $144 million in total, according to a source familiar with the listing.
Grainge, 61, whose standard remuneration package totalled €50.3 million last year, including salary, bonuses and benefits, is also receiving vast payouts after investments led by Tencent, the Chinese technology group, and Bill Ackman’s Pershing Square hedge fund in the company.
Universal Music is behind some of the biggest corporate names in the music industry, including EMI, Virgin Music and Polydor. It also owns Motown and Abbey Road Studios. The group’s line-up spans Elton John and the Beatles to Stevie Wonder and Luciano Pavarotti.
Vivendi is distributing shares in Universal Music among its own investors as part of the listing, which comes after it profited from the rise of streaming services. Takeovers were mooted and Videndi turned down an $8.5 billion bid from SoftBank, the Japanese fund, for Universal Music in 2013.
Grainge, who was knighted in 2016 for services to British business, spent time in intensive care last year after contracting Covid-19. He was born in London and lives in Los Angeles.
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GREG KELLY DOING SOME REAL REPORTING, THOSE PUT IN CHARGE OF THE 2ND HITJOB BY THE FEDS DO NOT LIKE DJT
Note: Anon recommends, the fed guy had to scrub his social media, rod rowe was using the old tactic and using lip service, anon posted the full press conference and the one thing anon noticed was eric prince statement, reactive protection to predator active protections. a whole different mindset, what this is showing the same as the first time trump got shot is they are purposely leaving a window open for either assets to take out trump or patseys as cover to position themselves while the real sniper does the job. huge fucking deal, fuckery afoot.
The reporting by the msm and the statements by the officials are designed to bring a sense of false complenency. if they succeed this will blow up into full blown civil war, which they thing they want. it is not a good place to go,
a old saying
do not put young men against older men who have been there and survived war zones.
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Greg Kelly: Another Secret Service failure, they won't get away with it
https://youtu.be/PyYDYzTTT4I