Music Business
Calvin Harris has secured a $13.5 million arbitration award in his legal dispute with former business manager Thomas St. John over a failed real estate venture. The ruling covers an unpaid loan tied to the CMNTY Culture Campus project in Hollywood. Further claims of fraud and an equity investment remain unresolved.
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Spotify's shares have declined nearly 20% since the September announcement that CEO Daniel Ek would step down to become executive chairman. The stock ended the week of November 21 down 8.2% at $583.62, contributing to broader losses in the music industry index. Investors appear skeptical about the leadership transition to co-CEOs Alex Norström and Gustav Söderström.