universal music group

Hedge-fund billionaire investor Bill Ackman withdrew his plan to acquire a stake in Universal Music Group via his SPAC, expressing doubts the SEC would approve the deal.

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Snapchat users will now be able to use songs from Kanye West, Lady Gaga and Taylor Swift after Snap and Universal Music Group inked a deal that gives the social media network access to the music giant's expansive catalog.

The deal underscores the ongoing confluence of social media, music and ecommerce.

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Hedge-fund billionaire investor Bill Ackman is getting a 10% share of one of the world's largest music companies, valued at $40 billion, and performing some Wall Street-styled gymnastics to do it.

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