Latest news with #6ix9ine
Yahoo
6 days ago
- Business
- Yahoo
Aging CEOs, Ambitious Nepo Babies and a Tech Revolution: Succession in the Music Biz
The business of music long has been an incestuous one, even when the players aren't related. But some of the leaders of today's recorded music industry — 84 percent of which is housed under the three major label groups, Universal, Warner and Sony — actually are. When Lucian Grainge, chairman and CEO of UMG, took the reins in 2011, his son, Elliot, had barely graduated college. Today, the junior Grainge is running Warner's Atlantic Records (home to Ed Sheeran, Coldplay and Bruno Mars) alongside another so-called 'nepo baby,' WMG's billionaire majority owner Len Blavatnik's 27-year-old son, Val Blavatnik, who is a member of WMG's board of directors with an increasing presence at the company. Elliot was brought in at age 30 in late 2024 to turn around the label's declining market share (from 10 percent at the end of 2020, down to 5.7 percent last year). While the results of his appointment are yet to be assessed, his track record for breaking acts on platforms like TikTok at his record label 10K Projects — where his successes included Ice Spice and the controversial 6ix9ine — preceded him. (WMG bought a majority stake in 10K in 2023.) More from The Hollywood Reporter Billy Joel Tells Howard Stern: "I'm Not Dying" ABBA's Björn Ulvaeus on Writing a Musical Assisted by AI and Those Kiss Avatars: SXSW London Diddy Trial Sees Heckler Disrupt Court as Judge Learns Anonymous Witness' Name Leaked Online 'Everyone in the industry is doing the same stuff,' Elliot told The Wall Street Journal earlier this year. 'I'm not doubting any of the human capabilities of these great guys, women and companies — however, they grew up in the fax machine era.' Elliot's ascent to CEO brought with it some upheaval — namely the exit of Julie Greenwald, a beloved executive who had shepherded the Atlantic labels for 20 years. Now, the industry's eyes are on the bigger Warner picture. Specifically, the company's succession line. THR talked to nearly a dozen executives across management, recorded music and publishing — all of whom requested anonymity to speak freely on the matter — who parroted a common refrain: that CEO Robert Kyncl, who joined WMG from YouTube in 2022, may be nearing the end of his run. (A rep for WMG says 'these are just totally false rumors,' declining further comment.) While not everyone had the same theory about who would take over if that happened, the most likely candidate, most agreed, was Val Blavatnik. 'Len will throw his kid in the seat as fast as he can,' one artist manager says. 'It's the succession. Warner's like a vanity [asset] for Len.' Adds a top manager: 'Val and Elliot are very close. It would make sense to bring Elliot in so he could sit and see for a while and help Val.' Another insider puts it more bluntly: 'This has always been a dynastic play for Len and Val.' To be fair, Kyncl is an easy target for rumor fodder given that he's the only CEO with a background in tech and media rather than music, and the music industry — with its less conventional work environment and reliance on intangibles like golden 'ears' — hasn't typically embraced outsiders. Coming off an underwhelming Q1 earnings report (WMG's stock price is down 16 percent since this time last year) also makes it easy for onlookers to put Kyncl under the microscope even if the chatter is unfounded. A change would be somewhat ironic, though, at a time when AI is poised to upend the music business if a digital native wouldn't have the mandate to navigate those rough waters. While insiders are turned toward Warner, it's worth remembering the fickle and cyclical nature of the music business, where hits still remain the top currency. With enough of them, the conversation could change. Currently WMG holds five of the Top 10 slots on Spotify's Global 50 chart as Alex Warren's 'Ordinary' (Atlantic) remains the biggest song in the world, Warner Records' Sombr hold two spots, 'La Plena – W Sound 05″ out of Warner Music Latina is seventh, and Atlantic's Rosé and Bruno Mars are in eighth with Apt.' If the past tells us anything, it's that seismic technological shifts have often served as a precursor for a changing of the guard at the record companies. In the early days of Napster and peer-to-peer file-sharing, Doug Morris (and his Universal colleagues, including Jimmy Iovine, who would go on to sell his Beats by Dr. Dre headphone line to Apple for $3 billion in 2014) was tasked with fending off the death of the CD, to mixed results. The era of digital downloads followed, making Apple's iTunes the world's biggest music store. Still, the 2000s would see year-over-year declines as album sales (typically $9.99 and up) ceded to song sales at 99 cents. By 2011, just ahead of the streaming era, Lucian Grainge spearheaded Universal's acquisition binge, beginning with the catalog-rich EMI (bought for $1.9 billion in 2012, not coincidentally the year Spotify launched in the U.S.) and continuing to the present, where its holdings now claim two-thirds of music's global market share. Today, Grainge, who netted handsomely when the company public in 2021, is the longest-tenured CEO across the three label groups. Sony Music Group chairman Rob Stringer is a not-too-distant second. After working at the company all of his professional life, he replaced Morris as chief executive in 2017 and has gone on to see some formidable wins, including record-breakers like Adele, and culture-shifting albums by Beyonce and Tyler, the Creator, to say nothing of bringing to the world Harry Styles. Is another change on the horizon? It's certainly a topic making the rounds as executives and industry insiders question when the old guard will pass the torch to a younger generation gearing up for the next era. Some wonder if Grainge will continue to occupy the top seat past his contract-end date in May 2028, though others suggest it's still premature to speculate on Grainge's successor as he's still very active in the company and has laid out a vision for the company for the years ahead. Still, succession has been discussed at UMG board meetings, and a source familiar with the agenda scoffs at the idea of going outside the UMG family in the future. Indeed, insiders and reports have cited Republic Collective CEO Monte Lipman (who runs the label group with his brother, Avery, its co-president and COO) and Interscope chairman/CEO John Janick as logical candidates from Universal's U.S. operations, but leaders in other territories shouldn't be counted out, says a source. 'There's a deep bench of internal players who are more than qualified to step into this position.' As succession names float, a pattern becoming more apparent is the lack of women helming labels contending to take the top C-suite jobs. For a time just a few years ago, that picture looked brighter as Michelle Jubelirer was chairwoman and CEO of Capitol Music Group, Greenwald was chairwoman and CEO of Atlantic Music Group, Ethiopia Habtemariam was CEO of Motown and Sylvia Rhone was CEO and Chairwoman of Epic. (The publishing side fares slightly better as Jody Gerson logs a decade as CEO of Universal Music Publishing Group while Carianne Marshall has been Warner Chappell's COO since 2018.) 'Old white men have had a choke hold on the industry for years,' says one female executive, who blames the lack of women on the industry's inability to properly groom talent. 'It's pretty pathetic of the labels, but it's not surprising. … And now there's been such a revolt around DEI, everyone has permission to just do the easy thing and hire the average white man instead.' (Rhone is the sole remaining female label head, but at 73, her retirement has become a perennial musing.) There are signs of hope under the conglomerate umbrella, however, with a slew of next-gen execs in the wings. At UMG's Island Records (home to Sabrina Carpenter and Chappell Roan), Imran Majid and Justin Eshak were named co-CEOs in 2021; at Def Jam (Justin Bieber, Big Sean), Tunji Balogun came in as chairman CEO in 2022; and at Mercury (Post Malone), 32-year-old Tyler Arnold assumed the chairman and CEO title in March. Meanwhile at Sony, new leadership for Arista (Maneskin) was just announced with Clio Massey, daughter of outgoing chairman David Massey, transitioning to co-president alongside Matt D'Arduini. And WMG's own Warner Records has seen its parent company's most consistent recent successes between Zach Bryan, Benson Boone and Teddy Swims under the watch of co-chairman and CEO Aaron Bay-Schuck who, at 43, is among the more senior of the bunch. Elliot Grainge, now 31, certainly tips the scale towards a younger, more nimble record executive less constrained by the old-boys-club way of doing things. But when that elder is your father and mentor, the nepotism-whispers will linger until he's had enough hits of his own. And in a business where names like Azoff, Davis and Wasserman all evoke the nepo tag, the song remains the same. 'Imagine if Bob Iger had a son who went to work at a competing company — it would never happen,' says one prominent industry lifer. 'In music, it's like, 'Oh well, we're fucking morons.' Time and time again, these CEOs refuse to leave or to do what's right as far as their corporate responsibility.' A version of this story appeared in the June 4 issue of The Hollywood Reporter magazine. Click here to subscribe. Best of The Hollywood Reporter Most Anticipated Concert Tours of 2025: Beyoncé, Billie Eilish, Kendrick Lamar & SZA, Sabrina Carpenter and More Hollywood's Most Notable Deaths of 2025 Hollywood's Highest-Profile Harris Endorsements: Taylor Swift, George Clooney, Bruce Springsteen and More
Yahoo
22-04-2025
- Yahoo
Police Raided 6ix9ine's Home In March And Have Now Revealed What Was Found
New details of a recent police raid at Tekashi 6ix9ine's Florida residence has come to light during his arraignment on Monday (April 21), according to Complex. The controversial rapper was hit with charges stemming from a March 12 home raid, to which he pleaded not guilty to four counts of violating his supervised release — charges directly tied to drugs and a firearm allegedly found during the raid. According to prosecutor Jonathan Rebold, police received a tip from a confidential source claiming that 6ix9ine was in possession of MDMA pills and a revolver. When the cops arrived, they allegedly found three orange MDMA pills and a small bag of cocaine residue in the rapper's bedroom. But that's not all. As the search continued, Rebold revealed that additional drugs — fentanyl and marijuana — were found in a poolhouse on the property, where 6ix9ine's brother was reportedly sleeping. A Glock 9mm was also discovered in the same location. While the brother does hold a concealed carry permit, it's still unclear whether he was legally allowed to possess the firearm found in the pool house. Reportedly, DNA tests are being conducted on the weapon to verify its connection to the rapper or anyone else involved. Adding another layer to the already shocking discoveries, the raid report also revealed that someone made an unsubstantiated claim that the MDMA had been mixed into alcoholic drinks and served to females at the home. Prosecutors clarified that there is no evidence to back up this claim, and no victims have come forward at this time. For now, the claim remains just a speculation. This latest development isn't 6ix9ine's first brush with trouble while on supervised release. In November 2024, Judge Paul Engelmayer sentenced him to 45 days in jail and another year of supervised release after he failed drug tests and violated travel restrictions. This setback came just months before he was expected to complete his original sentence, which stemmed from his release from prison in April 2020. To make matters worse, Judge Engelmayer noted that the rapper still has over 100 hours of community service to complete. 6ix9ine's lawyer, Lance Lazzaro, countered that his client has already clocked 40 hours in the past month and plans to wrap up the remaining service within the next three to four months. For now, the court has issued a stern warning: no guns or ammunition are allowed on the property unless explicitly authorized by a court order, affecting not just 6ix9ine but his family as well. A hearing is set for May 22, where prosecutors will aim to present evidence concerning the alleged violations, and DNA results from the discovered Glock. More from 6ix9ine To Serve Time In Jail For Violating Supervised Release DJ Khaled Receives Bizarre "RIP Drake" Coffin Delivered To His Florida Home 6ix9ine Ordered To Pay Victims Of 2018 Robbery
Express Tribune
07-04-2025
- Entertainment
- Express Tribune
Rapper Tekashi 6ix9ine claims he shared jail cell with Diddy: 'We sleeping right next to each other'
Rapper 6ix9ine is making headlines again — this time not for his music, but for an unexpected jailhouse revelation involving none other than Sean 'Diddy' Combs. During a candid Twitch livestream with DJ Akademiks on April 6, the controversial artist, whose real name is Daniel Hernandez, claimed that he and Diddy were briefly cellmates at the Metropolitan Detention Center in Brooklyn. 'We like, we literally like… we sleeping right next to each other, nah for real. I sleep right here, he [Diddy] slept right there,' said 6ix9ine, recalling their time in custody in late 2024. The rapper didn't stop there. He said he encouraged Diddy to take control of the narrative surrounding his legal troubles. 'I told him like, yo bro, like speak… you see how media is crucify Diddy, the media is crucify him, because they know they got the narrative, they got the upper hand,' 6ix9ine explained. According to 6ix9ine, he repeatedly urged the music mogul to be more vocal about his side of the story. 'I talked to Diddy — I mean, I know about your situation… but you gotta give a narrative or they will crucify you,' he added. Diddy was arrested in September 2024 on serious charges including sex trafficking and intimidation tied to so-called 'freak-off' parties. While he has remained in custody since, 6ix9ine was released in December 2024 after serving a 45-day sentence for violating probation. His infractions included missing court-ordered drug rehab, taking unprescribed Adderall, and traveling without permission. When asked for confirmation about the rapper's claims, 6ix9ine's attorney Lance Lazzaro told TMZ last year that his client had, in fact, been placed in the same unit as Combs but did not elaborate further. 'He was transferred to that same unit that P. Diddy is in. How they're getting along, I have no information as to that,' Lazzaro said at the time. As Diddy awaits trial — set to begin on May 5, 2025 — the hip-hop community is watching closely. Whether or not these two music figures shared more than just a holding cell remains to be seen, but 6ix9ine's story has certainly reignited public curiosity about the high-profile case.
Yahoo
05-02-2025
- Business
- Yahoo
Market Auctions to Auction Tekashi 6ix9ine's Iconic Diamond Collection
More Than 3,500 Already Signed Up for the IRS-Commissioned Auction PALM BEACH COUNTY, Fla., Feb. 05, 2025 (GLOBE NEWSWIRE) -- Market Auctions, appointed by the IRS, is set to auction an iconic collection of items previously owned by rapper Daniel Hernandez, known professionally as Tekashi 6ix9ine. This highly anticipated live auction, which is closed to the public, will take place March 5, 2025, at 1:00 PM EST in Palm Beach County, Florida, and online. Bidding is already live at Notable Items Up for Bid: "Bruce the Shark" Diamond Pendant – A 10Kt white gold pendant with 118.00 carats of diamonds, famously worn by 6ix9ine in Gooba and TROLLZ. An Instagram post with the diamond covered 'Finding Nemo' shark had over 1.6 billion views. 6IXINE, GOOBA, RIAA Platinum Award Plaque – Official RIAA-certified plaque commemorating the platinum status of 6ix9ine's hit single Gooba. "Spinner Shark" Enamel Pendant – A 10Kt gold custom piece by Richie Rich Jewelers with 87.80 carats of diamonds, reportedly purchased for $1,000, items include a 70.00 carat Water Diamond & Enamel Pendant, a 14Kt 69 Spinning Diamond Ring, a Rolex Datejust Wristwatch, Cartier Santos Stainless Steel Wristwatch, and a limited-edition Birkin Bag. You can view all 63 items on the block here. With over 3,500 fans, collectors, investors, and celebrities already signed up, the demand is high. Market Auctions is vetting every bidder to ensure a smooth and legitimate process—so patience is key. "Market Auctions was selected by the IRS to handle this auction, and we are committed to conducting it with the highest level of professionalism and transparency," said Jacob K. Kodner, Managing Partner of Market Auctions. "We understand the heightened interest in this collection, and our focus is ensuring a fair and secure process for all bidders." Market Auctions operates with a dedication to integrity and professionalism, handling each consignment with the same level of care, regardless of its origin. The appointment by the IRS highlights their confidence in Market Auctions expertise and ethical standards. This auction is conducted under the authority of IRS Code Section 6335. Market Auctions is a premier auction house in based in Palm Beach County, Florida specializing in fine art, jewelry, and high-value collectibles. Known for its integrity and expertise, the company provides a trusted platform for buyers and sellers worldwide. Media Contact: Thomas TobinThomas@ A photo accompanying this announcement is available at in to access your portfolio
