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TOP 10: This week's biggest stories

Daniel Gumble
TOP 10: This week's biggest stories

News of Gibson’s credit rating being downgraded by Moody’s Investors Service tops our rundown of the biggest stories from the past seven days.

The company’s credit rating was downgraded from B3 to Caa1 due to its ‘weak operating results pushing credit metrics below Moody's expectations’.

Elsewhere, Gear4music posted revealed that its total sales were up 46 per cent over the past 12 months, while our poll on whether or not an EU exit would be a good thing for the UK MI market also caught the industry’s attention.

A guest piece from The Subways frontman, Billy Lunn, on the crucial importance of small, independent music venues also proved popular this week.
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See below for the full rundown.

 

1. Gibson credit rating downgraded after 'weak 2015 performance'

Gibson Brands has seen its credit rating downgraded byMoody’s Investors Service, with the poor consumer reception of its 2015 guitar range and high turnover in its senior financial management cited as key reasons for its negative rating.

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2. Gear4music reveals total sales up 46 per cent over past 12 months

Gear4music has reported a total sales increase of 46 per cent in its year-end trading update, covering 12 months to February 29th 2016.

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3. POLL RESULTS: MI industry split over EU exit

The results are in from our poll on whether or not an EU exit would be a good thing for the UK’s MI industry.

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4. BILLY LUNN: 'Small venues are cultural lifelines to the poorest in our communities'

In an MI Pro exclusive, The Subways frontman, Billy Lunn, has penned a passionate tribute to the recently closed live music venue The Square in Harlow, whilst also highlighting the long-lasting damage being inflicted on working class communities by the demise of such cultural hubs… 

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5. EXCLUSIVE: PMT acquires Nevada Music

MI retail giant PMT has increased its reach across the UK with the acquisition of Portsmouth-based Nevada Music in an asset purchase, MI Pro can exclusively reveal.

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6. Live music boosts Bristol economy to the tune of £123 million

Last year saw the city of Bristol’s local economy bolstered by live music to the tune of £123 million, according to new research by Buckinghamshire New University and UK Music.

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7. Sir George Martin

Legendary producer and ‘fifth’ Beatle, Sir George Martin, has passed away at the age of 90.

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8. Music for All unveils new ambassador Steve White

Music for All has unveiled drumming icon Steve White as its latest ambassador.

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9. New MI marketing agency Rocksolid launched

A new marketing agency for the MI industry has launched today in the form of Rocksolid.agency, founded by ecommerce and digital marketing executive Mark Bower.

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10. Audio Distribution Group and Filling Distribution partnership

Audio Distribution Group has entered into a new strategic partnership with French supplier Filling Distribution.

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