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While the U.S. financial markets suffered a broad sell-off Monday in the wake of last week’s terrorist attacks, a number of sectors of the economy saw incremental gains at the closing bell. Gainers included security and defense companies specializing in issues ranging from airline safety to military buildup. The big losers were insurers and travel stocks. The markets had been closed for four days, the longest shutdown since the Great Depression. NYSE volume came to a record 2.33 billion shares, surpassing the previous volume record of 2.13 billion on January 4, 2001. The Dow Jones Industrial average set a record… Read more »

XM Satellite Radio today received from the Federal Communications Commission nationwide terrestrial network authority necessary to commence commercial operations and has rescheduled launch of the first U.S. digital satellite radio service for Tuesday, Sept. 25. XM had originally scheduled its launch for Sept. 12, but postponed it following the tragic events of last Tuesday in Washington, where the company is based, and in New York. Those events also led to federal shutdown and interruption in the FCC’s repeater network authorization process. “We are grateful that the FCC has moved so expeditiously in the face of the tragic events that have… Read more »

On the radio this week, songs by Live, Moby, Jewel, Aerosmith, Enya and others have been transformed into musical tributes integrating news coverage of Tuesday’s events, passages from President Bush’s speeches in response to them and first-person accounts from witnesses to the terrorist attacks in New York and Washington, D.C. KIIS in Los Angeles produced a tribute version of U2’s “Stuck in a Moment You Can’t Get Out Of” and are also playing a tribute version of Enya’s “Only Time” and Faith Hill’s “Star-Spangled Banner.” “We were looking for something to help, songs that touch the heart, that help you… Read more »

Britney Spears has titled her upcoming third album Britney. The album is due out November 6th with the first single, “I’m a Slave 4 U,” ready for radio at the end of the September. A preview of the single is available on Spears’ official site, www.britney.com. The song, which she performed last week at the MTV Video Music Awards, was written and produced by the Neptunes, who have also worked with ‘N Sync and the Backstreet Boys. The video for “I’m a Slave 4 U” will debut on MTV on September 21st. Spears’ tour in support of Britney will kick… Read more »

The nation’s entertainment capital shut down Tuesday as two major awards shows and a Madonna concert were canceled and most of Hollywood’s big studios closed their doors in response to horrific terrorist attacks in New York and Washington, D.C. It was the day the music died for the 2nd annual Latin Grammy Awards show, a glitzy music industry event which ironically had been moved to Los Angeles from Miami for security reasons last month. Organizers of the star-studded gala said the $4 million production, which was to have been broadcast Tuesday night in the United States and 120 other countries,… Read more »

Satellite radio company XM Satellite Radio Holdings Inc. said on Tuesday it postponed the launch of its commercial service in San Diego and Dallas, scheduled for Wednesday, in the wake of hijacked airplane attacks on New York and Washington. XM Satellite had planned to launch the service on Sept. 12 and expand nationally by November. It aimed to provide U.S. car listeners with 100 channels of digital music, news, sports and talk channels via satellite. “Due to today’s national tragedy, XM Satellite Radio has postponed the launch of its commercial service,” the company said in a statement. XM Satellite has… Read more »

In one of the last weeks before the new season, all four major networks for the first time finished with the same share among young adults for the Sept. 3-9 period – another sign of how hotly contested the upcoming season could be. (However, Tuesday’s terrorist attacks mean the new season, scheduled to start next Monday, could be delayed.) NBC won for the 20th time in 21 weeks in the coveted adults 18-49 demographic (3.3 rating, nine share), according to Nielsen, but second-place CBS (3.1/9) and third-place ABC and Fox (who tied at 3.0/9) were all within three-tenths of the… Read more »

Showing no signs of fatigue or question marks about making a show revolve around material from her last two albums, Madonna started her final stop on the Drowned World Tour Sunday with a mesmerizing and confident performance that puts to shame any singer who thinks she might have a shot at Ms. Ciccone’s pop throne. Madonna frames blocks of songs in various settings, using mix-and-match motifs that yield differing results. In the end, she emerges triumphant – a reminder of why her star has never dimmed. Hundred-minute show closes on “Holiday,” Madonna’s first top 40 single from way back in… Read more »

An eyeball-catching performance on the Latin Grammy awards program not only lifts recordings sales but can transform careers, according to recording executives hoping their musicians pull a Ricky Martin. Executives at Sony Music and BMG said the Latin Grammys, a $4 million production to be broadcast on Tuesday in the United States and 120 other countries, is a venue that can overcome barriers of language, genre and country. Martin’s 1999 performance on the long-running U.S. Grammy awards program mightily boosted sales of his self-named album and other recordings and was widely seen as making the Puerto Rican native an international… Read more »

The 18th annual MTV Video Music Awards delivered its second largest audience on Thursday, and ranked as the most-watched program on cable since January. According to Nielsen Media Research, Thursday’s show averaged 10.76 million viewers, up 9% from last year but down 10% from the record-setting pace of 1999 (11.94 million). MTV was Thursday’s most-watched primetime network, averaging about 1 million viewers more than runner-up ABC (9.80m). The huge turnout also makes the kudocast the most-watched cable program since the TNT Western “Crossfire Trail” on Jan. 21. Even with Viacom sister network UPN taking wrestling’s “WWF Smackdown!” off Thursday’s schedule… Read more »