Billboard's Parent Company Names Ross Levinsohn CEO

Billboard's parent company has a new leader: Former Yahoo and Fox Interactive Media executive Ross Levinsohn. 

In his role as CEO of Guggenheim Partners' newly-renamed Guggenheim Digital Media, Levinsohn will oversee Billboard, The Hollywood Reporter, Adweek, The Film Expo Group and the CLIO Awards. Levinsohn, no stranger to the art of the Hollywood deal, also will look to boost Guggenheim sister properties like Dick Clark Productions. He'll be tasked with identifying new media businesses in which the global financial services company can invest - or acquire. 

"Guggenheim Digital Media will play an integral role in developing our iconic portfolio of existing media and entertainment assets, as well as identifying new, ground-breaking investments and partnerships in the music, media, technology and digital entertainment spaces," Todd Boehly, president of Guggenheim Partners, said in a statement. "Ross's deep industry expertise and impressive track record of executing digital media strategies makes him the ideal person to spearhead this new effort." 

Levinsohn, who started at Yahoo in 2010, took over as the company's interim CEO in May 2012, after CEO Scott Thompson stepped down on the heels of a resume scandal. Levinsohn had been in charge of media and advertising sales divisions as the head of the Americas unit. His highest-profile job before Yahoo was as head of News Corp.'s Fox Interactive Media. Levinsohn's resume also includes stints at CBS Sportsline, advertising firm Saatchi and Saatchi and Internet search engine AltaVista. 

"I am excited to be part of the dynamic Guggenheim family of companies," Levinsohn said in a statement. "Guggenheim Digital Media has a powerful and competitive portfolio of iconic media assets today, and I look forward to identifying new opportunities for growth as the media and technology industry continues to rapidly evolve." 

In an email to employees, Boehly said the company would continue to invest in its print products and live events. 

In addition to changing its media company's name from Prometheus Global Media, Guggenheim said it has acquired the remaining stake in Prometheus from Pluribus Capital, the investment firm founded by Jimmy Finkelstein that partnered with Guggenheim to purchase THR and other brands from Nielsen in 2009. "We have enjoyed a successful and profitable investment with Prometheus and Guggenheim Partners now has a dynamic runway for continued success, especially in light of their recent acquisitions in the media industry," Finklestein, who was chairman of Prometheus, said in a statement. 
  
During the partnership between Guggenheim and Pluribus, The Hollywood Reporter was relaunched as a weekly magazine with an expanded website. Both reinventions have proven successful, with THR's print magazine winning rave reviews and its website far outpacing rivals in monthly unique visitors, according to ComScore. 

In the statement, Boehly touted "the partnership between Guggenheim and Pluribus," and said "we credit Jimmy for his leadership and wish him the best of luck in his future ventures." 

Levinsohn will be based in Los Angeles.

JUELZ SANTANA HINTS AT POTENTIAL PROJECT W/ G-UNIT MEMBER: "WE GOT A GOOD CHEMISTRY TOGETHER"

Dipset's Juelz Santana recently discussed his close-knit working relationship with estranged G-Unit member Lloyd Banks and how much music they have on deck.

According to Santana, Banks even kicks it with him at his crib when not in the recording studio.

"A mixtape or somethin'," Elz asked MTV News, answering our question with another question during our interview on Thursday. "Me and Banks are definitely cool enough. Me and Banks are cool not even on the music tip, like Banks comes to my house to light up a brown cigarette and things of that nature. ... Me and Banks actually recorded three records [for my God Will'n mixtape], it's crazy. I think the whole tape is crazy, so everything I'ma say, I think it's crazy. But to tell you about the record, we recorded the record together. He came to my studio. He played some beats. He actually had a song he wanted me to get on for his tape. I jumped on that, and he played another two beats, and we knocked a couple of records out. ... Me and Banks, we got a good chemistry together. We do records fast. We got a good energy. That might transpire into something a little bigger." (MTV)

Back in 2010, CNN's N.O.R.E. applauded Banks and Juelz for their "Beamer, Benz or Bentley" anthem.

"A new artist from the East Coast or an older artist from the East Coast comes out and he gets light support as opposed to when these other guys come out, their music is all over our town and then you got your artists that travel to their communities, and they never hear they records," NORE told radio personality Jenny Boom Boom. "As far as the East coming back, I feel like we really never went anywhere, it's just that the content of hip-hop wasn't that much relevant. People wanted to dance and now people are so tired of dancing and they so tired of wearing white tees, now it's just time for us to say you know what, it's time to get back to what it's originally made of. I salute Fabolous, he had a great year...I like what he did for the town, I like his new mixtape. Lloyd Banks with Juelz Santana, that's a good look for the city, I salute that." ("Jenny Boom Boom TV")

Lloyd previously boasted about hooking up with the Diplomat for their hit.

"The Juelz feature is something that didn't happen in [the past] because we had two of our own entities," Banks explained in an interview. "G-Unit had a lot of our own artists we had to showcase, same with Dipset. I was doing records with Prodigy, Mobb Deep, with everybody. I didn't have to go outside the circle. I was excited about the staff we had there. Now it's time for change."To have 'Beamer, Benz or Bentley' added to [radio station] Hot 97 within three or four days was incredible. That was one mixshow weekend that really came at the right time. I'm so thankful, man. It goes to show as long as you keep striving for what you believe in and your goals, you can make it happen." (MTV)

Recently, Atlanta rap newcomer Trinidad James bigged up the "Punch Line King."

"Plus Banks, that dude is amazing to me," James said in an interview. "He's a super good rapper. He's actually got one of the hardest lines I've ever heard in my life. He said something about, 'I'm from Bankhead, where the Bankhead make this b*tch bounce. Give Banks head and then that b*tch can bounce.' I was like whoa! You gotta think about it. I'm in Atlanta and this New York, up north dude just did the hardest Bankhead line that I've ever heard, outside of Atlanta. I was like, 'Ah man, this sh*t is hard as h*ll.'" (Shade 45)

NAS REVEALS WHY HE DOESN'T LIKE GOING OUT

Rap veteran Nas recently discussed his personal life and why, despite publicized ups and downs, he does not live with regrets no matter how things turn out.

Rather than make up excuses for his trials and tribulations, Nasty Nas said those incidents display his true self.

"The flaws, the mistakes I make -- that's the real me," Jones, 39, said Tuesday at the 92nd St. Y. "It's not so polished. It's not a hit." The often-controversial emcee was hit with a $10 million breach of contract lawsuit last month by a jilted New Jersey promoter over a failed New Year's Eve appearance in Africa. He also had issues with the Internal Revenue Service over unpaid taxes, which he admitted are still ongoing during his one-on-one with DeCurtis. "I could never imagine back then having a career that lasted even one decade," he said. "At one point everyone around me was on parole -- the next moment everyone owns mansions." Jones still visits his old Long Island City stomping grounds on occasion, but prefers a more solitary lifestyle. The posh penthouses still feel foreign and the harsh streets all too familiar, he said. "I don't go out unless I'm working. My quality time is when I'm doing nothing," he said. (New York Daily News)

Back in fall 2011, Nas told Odd Future's Tyler, the Creatorabout his embrace of loneliness.

"Are you, like--this question might catch you off guard, but I ask myself this--like, when you wake up, like, are you happy," Tyler asked. "Like, are you satisfied how everything turned out?" "Dawg, I was naming my album Life Is Good because of how happy I am about how happy things have turned out," Nas answered. "Sometimes I may wake up and wish my kids were living with me. That's the only thing, you know what I mean? Our loved ones that are not around no more, like my mom. That's the only thing. But other than that, everything is great, even when I'm alone. Even when there's no one around." (XXL Mag)

Earlier this month, God's Son spoke on the importance of authenticity as a hip-hop entertainer.

"Rule No. 1 is you can't be fake. If you're fake, you become a gimmick and you're selling a gimmick; a little gimmick is cool, this is entertainment. But when you base your stuff on mostly real stuff, you never run out of it because every day is a different adventure." (SF Gate)

Heading into the weekend, Nas revealed he had checked into a hospital after reportedly suffering from flu-like symptons.

"Peace y'all. I'm out of the ER & doin alright. I'm on bed rest for a few. Apologies to everyone @ Live w/ Kelly & Michael. I'll make it up.," he tweeted January 11th. (Nas' Twitter)

Warner Music Sued for Millions by George Gershwin Heirs

The heirs of composer George Gershwin have filed a lawsuit that seeks at least $15 million from Warner Bros. Music for the underpayment of royalties and other accounting discrepancies.

The lawsuit was filed on Friday in New York State Court.

Gershwin composed "Rhapsody in Blue, An American in Paris, Porgy and Bess" and other famous works. He died in in 1937 and since, his Trust have been working with various Warner Music subsidiaries including Warner/Chappell on the exploitation of his work.

In 2007, the Gershwin heirs conducted an audit and allegedly turned up what they say is Warners' failure "to protect and preserve Gershwin's copyright interests both domestically and abroad."

Specifically, the plaintiffs take issue with the way that Gershwin's music and orchestrations has been rented outside the United States and Canada, the licensing of his ballets, the licensing of concert grand rights and an alleged failure to register copyrights in arrangements of his compositions with performance rights organizations in a timely manner.

According to the complaint, Warner Music is contractually required to hand over all net income, which is defined as gross receipts minus a 15% administration fee. The plaintiffs allege all sorts of ways that Warners failed to make a full accounting and took too much deductions and allowed too many commissions. The lawsuit also takes issue with how the music giant has booked foreign revenue, a hot issue in the music law world.

Here's one example from the complaint:

"With respect to reported rentals of "Concerto in F" in Italy during 2003, the royalty review revealed that the Defendants permitted and/or authorized...  the following: excessive and unnecessary chain of fees and commissions. First, on the $1,903.27 of gross revenue actually paid for the rentals by the end user, a 35% commission was taken by Ricordi Music Publishing SPA, the local rental third-party sub-agent in the territory of Italy, before it remitted the net revenue to Warner/Chappell Italy, the Defendants' affiliated entity in Italy; Second, a 15% commission on this net amount was then taken by Warner/Chappell-Italy before it remitted the net revenue to Warner/Chappell US; and Third, a 15% commission was then taken on this net amount by Warner/Chappell-US before remitting the remaining net revenue sum of $994.44 to the GG Parties. Making matters worse, the GG Parties received this sum as part of the accountings rendered by the Defendants in the third quarter of 2007 -- approximately 4 years after the actual payments for the rentals were received by Ricordi."

An April 23, 2012 audit report determined that more than $4.4 million was owed before interest, according to the plaintiffs.

But the plaintiffs say that more is owed through other failures like using misleading royalty statements, failure to monitor the activities of affiliates and abandoning territories like Asia and Australia.

Represented by attorneys Brian Caplan and Jonathan Ross, they are now demanding at least $5 million in compensatory damages for breach of contract and at least $5 million in compensatory damages and another $5 million in punitive damages for breach of fiduciary duty. 

NOTORIOUS' DAUGHTER HYPNOTIZES W/ JAW-DROPPING "B.I.G." TATTOO

Late New York rapper Notorious B.I.G.'s daughter, T'yanna Wallace, has taken facial tatoos up a notch, now revealing new ink of her father's hip-hop alias on her lip.

T'yanna shocked fans and embraced the attention over the unusual tattoo this week on Twitter.

The late Notorious B.I.G.'s teenage daughter, T'yanna Wallace, is receiving a lot of attention for a new tattoo dedicated to her father. T'yanna shared a "B.I.G." lip tattoo with the explanation: "Business instead of games!" The extreme ink quickly became viral and the image was picked up by several sites, much to T'yanna's surprise. "LMAO NAH WORLDSTAR TOO! NOW YA"LL ODING LIKE YALL NEVER SEEN A LIP TAT," she tweeted earlier today upon realizing that the image was being shared. (RapFix)

Last spring, Wallace spoke on her father's legacy and named her fave Notorious record.

"When I first started listening to it, it wasn't like that, but the older I get, I swear I fall in love with his music more and more and more and more. I'm like, talent out the butt," T'yanna said when asked if she was amazed at her father's lyrical prowess growing up. "[My favorite B.I.G. song so far?] It changes all the time. Right now, currently, still, 'Machine Gun Funk' is my favorite song. ... That is my all-time favorite." (Hot 97)

A few months ago, B.I.G.'s ex-wife Faith Evans spoke on the impact he had on the world.

"It's wonderful just to know that Big, his legacy is still so strong," Evans told us. She went on to add that "seeing stuff like the shirts, that's just an extension of that. People loved him and continue to love his music so you know, I'm just proud to have been a part of his life and to be able to carry on the extension of his legacy. ... Well, shoot, he was still one of the best that ever did it," she said emphatically. "And just imagine had he still been making music. I like to think sometimes, like, 'Wow, what would he be doing?' 'Cause his stuff right now -- you hear stuff right now that was made back then, it still sounds great." (MTV)

Nearly two decades since his passing, a never-before-seen autopsy report surfaced last month.

The report confirms Wallace -- who was listed at 6'1", 395 lbs -- was struck a total of 4 times in a drive-by shooting on Wilshire Blvd while the 24-year-old rapper sat in the passenger seat of a Chevy Suburban. According to the report, 3 of the shots were NOT fatal. -- Gunshot #1 struck Wallace in the left forearm and traveled down to his wrist. -- Gunshot #2 struck Wallace in the back, missed all vital organs, and exited through his left shoulder. -- Gunshot #3 struck Wallace on his outer left thigh and exited through his inner left thigh. The reports says .. after Gunshot #3 exited the thigh, "the projectile strikes the left side of the scrotum, causing a very shallow, 3/8 inch linear laceration." The fatal bullet was Gunshot #4 ... which entered Wallace's body through his right hip and ripped its way through several vital organs ... before coming to rest in his left shoulder area. According to the report, the bullet perforated Wallace's colon, liver, heart and the upper lobe of his left lung. (TMZ)

HMV to Appoint Administrators; Over 4,000 Jobs Under Threat

Ailing music and entertainment retailer HMV is to suspend the trading of its shares and enter administration, the U.K. equivalent of Chapter 11 bank protection, the company has confirmed.

The troubled music company is the U.K.'s last major high street music retailer and has over 230 brick and mortar HMV stores in the United Kingdom and Ireland along with 9 Fopp outlets. It also has a 50% holding in U.K. digital retailer 7digital, which powers its own digital offering HMV.com.

Universal-Led Suppliers Liable for Up to $242 Million If HMV Folds: Repor t

In a statement released late evening GMT Jan. 14, HMV announced that it was to suspend trading of its ordinary shares with immediate effect and proposed that Deloitte LLP is to be appointed as the administrators of the Company and its subsidiaries, placing over 4,300 jobs at risk.

"The Board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection, and in the circumstances therefore intends to file notice to appoint administrators to the Company and certain of its subsidiaries with immediate effect," HMV confirmed in a statement.

"The Directors of the Company understand that it is the intention of the administrators, once appointed, to continue to trade whilst they seek a purchaser for the business," the statement went on to say.

While the news is a huge blow to the U.K. music industry, it is not unexpected. In December, HMV warned that it was likely to breach its January banking covenants with chief executive Trevor Moore warning that "current market trading conditions result in material uncertainties facing the business."

The company's most recent financial results, which accounted for the six months ending Oct. 27, reported a £36.1 million ($58.5 million) first-half loss, with total sales falling 13.5% to £288.6 million ($467.7 million), from £333.7 million ($540.8 million) the previous year. Despite selling a number of its live assets throughout 2012, including flagship venue, London's Hammersmith Apollo, to American-German joint venture Stage C for £32 million ($51.9 million), HMV Group's underlying net debt remained £176.1 million ($285.4 million), according to December's Interim Results.

The same month saw New York-based investment group Apollo Global Management reportedly buy a 10% holding in the troubled retailer - approximately £20 million ($32.4 million) - with a possible view to acquiring the company.

HMV is yet to disclose its performance during the crucial holiday trading period and recently launched a U.K.-wide promotional sale to boost its finances.

According to the Financial Times, a week prior to today's (Jan. 14) announcement, HMV unsuccessfully asked its suppliers, including music labels, for approximately £300 million ($482 million) in additional financing to pay off its bank debt and fund an overhaul of the company's business model.

The first HMV store was opened in 1921 on London's Oxford Street by composer Sir Edward Elgar.

IMMY HOFFA TIP: DETROIT MAN SAYS HE CAN CRACK JIM HOFFA CRIME MYSTERY

A Jimmy Hoffa tip that could actually reach paydirt? An 85-year-old ex-gangster may have the answer to the unsolved Jimmy Hoffa mystery.

Tony Zerilli, who federal agents said has played a key role in the case but has refused answering questions for decades till now, has a key Jimmy Hoffa tip. He says the union leader was buried in a field in suburban Detroit--about 20 miles north of the restaurant where he was last seen.

“I’m dead broke. I got no money,” Zerilli told NBC 4 New York. “My quality of life is zero.”

It's not a statement fit for a man who officials say was once a high-ranking member of the Detroit La Cosa Nostra family. “He actually had risen up at one point to the underboss – or second in command,” Andy Arena, former head of the FBI for New York and Detroit, said of Zerilli.

The mystery has gone unsolved because of Detroit's tight-knit mafia family relations. NBC News reports that in July 1975, Hoffa told people he was going to meet two men at a restaurant in suburban Detroit. One was a suspected member of the Detroit mafia. The other was a Teamster boss from New Jersey. Hoffa, who’d been investigated for dealings with the mafia, was seen at the restaurant--and then never again.

While feds have speculated that the disappearance involved a select group of people in highly organized crime, Zerilli's Jimmy Hoffa tip is the first from that group. "What happened to Hoffa had nothing to do with me in any way, shape or form,” Zerilli said, who was locked up at one point. "If I wasn’t away I don’t think it ever would’ve happened, that’s all I can tell you. I would’ve done anything in the world to protect Jim Hoffa.”

Read the full story here.

my hoffa, tony zerilli, Detroit, la cosa nostra family