The publishers claim X never attempted to secure an individual license and that X cannot cite an example of a music publisher rejecting such a request.
"UMG's stock price has languished due to a combination of issues that are unrelated to the performance of its music business and importantly, all of them can be addressed with this transaction," says Ackman
"We see tremendous opportunity ahead and are excited to continue expanding our reach while delivering unforgettable experiences for audiences and partners across the U.S."