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Taylor Swift inks Universal Music Group mega-deal

Dan Primack, author of Pro Rata

Photo: Jun Sato/TAS18/Getty Images

Taylor Swift left the only record label she's ever known on Monday, choosing to leave Big Machine sign a mega-deal with Universal Music Group. In an Instagram post, Swift said that UMG had agreed to distribute any proceeds from future sales of its shares in Spotify to artists, on a non-recoupable basis.

Here's the weird thing: I can't find any information on UMG's current shareholding in Spotify. We know it was a holder for years, but it doesn't turn up in the list of hundreds of active shareholders in either S&P Capital IQ or FactSet. Nor was UMG mentioned in Spotify's IPO docs, outside of some licensing agreements.

Go deeper

Axios
10 hours ago - Politics & Policy

Biden explains justification for Syria strike in letter to Congress

Photo: Chris Kleponis/CNP/Bloomberg via Getty Images

President Biden told congressional leadership in a letter Saturday that this week's airstrike against facilities in Syria linked to Iranian-backed militia groups was consistent with the U.S. right to self-defense.

Why it matters: Some Democrats, including Sens. Tim Kaine (D-Va.) and Chris Murphy (D-Conn.) and Rep. Ro Khanna (D-Calif.), have criticized the Biden administration for the strike and demanded a briefing.

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Shawna Chen
11 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

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Axios
Updated 12 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Health care in the New Washington — Biden: It's "not the time to relax" COVID mitigation efforts — Tracking coronavirus variants through sewage.
  2. Vaccine: FDA authorizes Johnson & Johnson's one-shot vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Sports: Poll weighs impact of athlete vaccination.
  5. World: Italy tightens restrictions as experts warn of growing prevalence of variants — PA announces new COVID restrictions as cases surge.
Go deeper (1 min. read)Arrow

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