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PM Update: Cash Poor Thumplay Close To Sale, Investors Re-Like Music, Doug Morris, BMG & NMPA

Hypebot Favicon Beginning today, Hypebot will publish our morning roundup of music industry news every weekday morning prior to 11AM ET and when warranted we'll add a PM addition every afternoon around 4:30PM ET. 

  • Thumplay Music is reportedly running out of cash and very close to being sold. (MocoNews)
  • Since the end of 2010 at least $57 million in investor cash has gone into digital music and more is expected flow into Pandora, Spotify and an array of startups like Rdio, SoundCloud and RootMusic. (NY Times)
  • Universal's Doug Morris will have to wait until summer to take the helm at Sony, according to The Telgaraph. Other sources say things are still up in the air.
  • BMG Rights Management has named Steven Moran as Global COO based in Berlin.
  • Today the National Music Publishers' Association (NMPA) announced three new board members:  Laurent Hubert, BMG Rights Management; Cameron Strang, Warner/Chappell Music; and Richard Stumpf, Imagem Music USA.

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