UMG's $568M Buyback, Providence Buys THE•TEAM at $3.4B - July 28

Universal Music Group closes a landmark €499M share buyback while Providence Equity moves to fully acquire sports-and-music agency THE•TEAM at a $3.4B valuation. Ariana Grande sues anonymous hackers over a yearslong leak campaign, and HYBE posts record Q2 revenues of ~$987M on the back of BTS's Arirang world tour. Meanwhile, a Munich court is days away from issuing the first major global AI copyright ruling in GEMA v. Suno. Deals & M&A • UMG completes its first-ever share buyback, repurchasing 26.7M shares for ~$568M since April. • Providence Equity nears full buyout of THE•TEAM (ex-Wasserman), valuing the agency at ~$3.4B. • Distributor Too Lost partners with Roblox to place its catalog inside the gaming platform's ecosystem. Lawsuits & AI • Ariana Grande sues anonymous hackers in California over hundreds of leaks, including 45 unreleased songs. • Singer D4vd ordered to stand trial on murder and sexual abuse charges; death penalty under consideration. • AFM amends AI-licensing lawsuit against UMG and Warner, spotlighting Udio's upcoming Starstruck service. • Live Nation antitrust states cite new Second Circuit ruling as Ticketmaster divestiture fight intensifies. • Spinnin' Records signs Zambian artist The Second Voice, whose AI-produced debut raises DSP disclosure questions. Streaming & Tech • Snapchat launches Spotify-linked "Now Playing" on Snap Map, reaching 450M monthly active users. • HYBE posts record Q2 revenue of ~$987M and operating profit of ~$116M, led by BTS's Arirang tour. Artists & Releases • Gracie Abrams debuts at No. 1 on the Billboard 200 with Daughter From Hell, earning 124,000 units. • Ella Langley's "Choosin' Texas" hits 15 weeks at Hot 100 No. 1, a new female country artist milestone. International • HYBE's Korean roster — Enhypen, Le Sserafim, Katseye, Cortis — contributed to record Q2 results alongside BTS. Also Today • GEMA v. Suno Munich verdict still expected July 31 — potentially the first global AI training copyright ruling. • Michigan officials face calls to suspend Electric Forest after a newborn's body was found on festival grounds. Five minutes, six categories, zero fluff.

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Today is Tuesday, july twenty eighth, twenty twenty six. First up, deals and MA. Universal Music Group completed its first ever share buyback program, spending about five hundred sixty eight million dollars to repurchase twenty six point seven million shares since April. Meanwhile, private equity firm Providence Equity Partners is finalizing a deal to buy out Casey Wasserman's remaining stake in the team, valuing the talent and sports agency at roughly $3.4 billion. The deal is unsigned but expected to close within weeks. And music distributor 2 Lost inked a partnership with Roblox to make its catalog available inside the gaming platform's user-generated ecosystem, bringing artists like the All-American Rejects to millions of Roblox users. Next, lawsuits and AI. Ariana Grande filed a California lawsuit Monday against anonymous hackers, alleging a years-long campaign targeting her photographers and producers that resulted in hundreds of leaks, including 45 unreleased songs in 2023 alone, with stolen material sold on the dark web. In Los Angeles, Judge Charlene Olmedo ruled Monday that singer D4DV must stand trial on charges of murder, continuous sexual abuse of a child, and unlawful mutilation, with arraignments set for August 31st. Prosecutors are weighing whether to seek the death penalty. And the American Federation of Musicians filed an amended complaint in its AI breach of contract suit against Universal Music and Warner Music, focusing new arguments on UDO's upcoming Starstruck service as evidence of unauthorized commercial use of members' recordings. Moving to streaming and tech. Snapchat launched Now Playing on SnapMap, letting users link their Spotify accounts to display real-time listening activity to 450 million monthly SnapMap users. Snap signaled plans to add additional streaming services over time. And Hybe reported record second quarter revenue of roughly $987 million and record operating profit of about $116 million, driven by BTS's Arirang World Tour and Album sales, with the company's Wii verse superfan community reaching 14.4 million monthly active users. Now, artist news. Gracie Abrams scored her first number one on the Billboard 200 with Daughter from Hell, debuting with 124,000 equivalent album units, her best week ever, and the sixth debut chart topper of 2026. And Ella Langley's Choose in Texas extended its Billboard Hot 100 reign to 15 weeks at number one, passing Mariah Carey's We Belong Together and Whitney Houston's I Will Always Love You for a new milestone among female country artists. Finally, International. Hybes record quarter was driven not only by BTS, but by its broader Korean roster. Cortis, Cat's Eye, Inhypen, and Lacerafim each contributed to the company's success, with Hybe artists claiming five of the US top 10 CD sellers in the first half of 2026. That's your music industry rundown. Have a good Tuesday.