Savage Ventures vs Universal Music Group

Savage Ventures weighs $60M-$70M bid for OpenWeb

Savage Ventures, the venture capital firm that owns digital assets of Vice, is considering a bid between $60 million and $70 million for the insolvent adtech company OpenWeb. The bid would cover OpenWeb's outstanding debt of approximately $57 million, enabling the company to pay employees and publisher partners, and inject capital to stabilize operations. The purchase would be funded with cash rather than a fundraise. OpenWeb, once valued at $1.5 billion after raising $170 million in 2022, entered insolvency in September and is facing a competitive court-directed sale. Savage Ventures has a track record of acquiring distressed media businesses. The deal is expected to close this month, subject to court approval.

• Savage Ventures is weighing a bid of $60M-$70M for insolvent adtech firm OpenWeb.
• The bid would cover OpenWeb's outstanding debt of approximately $57 million.
• OpenWeb was once valued at $1.5 billion after raising $170 million in 2022.

Universal Music Switzerland CEO Ivo Sacchi Steps Down After 25 Years

Ivo Sacchi, Managing Director of Universal Music Switzerland, is stepping down after 25 years. He will be succeeded by Ulf Zick, who remains President International Repertoire & Marketing DACH, reporting to Frank Briegmann. The company is consolidating its German-speaking markets (Germany, Austria, Switzerland) into a GSA structure to strengthen collaboration and resources. Sacchi will pursue new entrepreneurial ventures in entertainment and art. Additionally, Julie Born, Managing Director Switzerland & Austria at Sony Music, is leaving at the end of October, as announced in September by Christoph Behm, CEO of Sony Music GSA.

• Ivo Sacchi steps down as Managing Director of Universal Music Switzerland after 25 years.
• Ulf Zick takes over leadership for Switzerland and Austria, retaining his role as President International Repertoire & Marketing DACH.
• Universal Music merges Germany, Austria, and Switzerland into a GSA structure.

UNIVERSAL MUSIC GROUP AND ELEVENLABS ANNOUNCE MULTI-YEAR STRATEGIC AGREEMENT, BEGINNING WITH A NEW LICENSED AI MUSIC CREATION PLATFORM

Universal Music Group and ElevenLabs announce a multi-year strategic agreement, beginning with a new licensed AI music creation platform.

ElevenLabs and Universal Music Partner for AI Song Remixing

Universal Music Group (UMG) and AI audio company ElevenLabs announced a multi-year licensing partnership to develop a platform enabling fans to create remixes, mashups, and reinterpretations of songs from Universal's catalog. The platform will feature music only from artists who actively opt in. Financial terms and a launch date were not disclosed. ElevenLabs, known for voice cloning, has faced legal challenges over voice cloning without consent, settling one case in August 2025 but still facing a class action. This is ElevenLabs' first major music label deal, while Universal has previously partnered with Udio, Klay, Spotify, and Nvidia. The initiative combines ElevenLabs' AI models with Universal's rights management and artist community, aiming to provide fair compensation to artists and songwriters.

• Universal Music Group and ElevenLabs announced a multi-year licensing partnership to develop a fan remixing platform.
• The platform will feature music from artists who actively opt in and will be separate from ElevenLabs' existing music offerings.
• ElevenLabs has a song generator and a Music API, as well as a dedicated ElevenMusic app.