Recording Companies Agree to Pay $50M
1 hour, 33 minutes ago
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By DEEPTI HAJELA, Associated Press Writer
NEW YORK - Major recording companies have agreed to return nearly $50 million in unclaimed royalties to Sean Combs, Gloria Estefan (news), Dolly Parton (news) and thousands of lesser known musicians under a settlement being announced Tuesday.
A two-year investigation by New York state Attorney General Eliot Spitzer's office found that many artists were not being paid royalties because record companies lost contact with the performers and had stopped making required payments.
"As a result of this agreement, new procedures will be adopted to ensure that the artists and their descendants will receive the compensation to which they are entitled," Spitzer said in a statement.
The Washington-based Recording Industry Association of America (news - web sites), which represents the companies, planned to comment after the official announcement, said spokesman Jonathan Lamy.
Representatives for Combs and Parton did not immediately return calls for comment. A spokesman for Estefan, reached prior to the announcement, was unaware of the settlement and had no immediate comment.
The participating companies include: SONY Music Entertainment; Sony ATV Music Publishing; Warner Music Group; UMG Recordings; Universal Music; EMI Music Publishing; BMG Songs; Careers-BMG Music Publishing; BMG Music and the Harry Fox Agency.
Under the settlement, the music companies agreed to make good-faith efforts to track down artists to whom royalties are due. If the artists still cannot be located, the money will revert to the state.
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Originally Posted by gitreel
I can't find the original members of Wall of VooDoo. Maybe they are under my desk. Nope. Maybe they are in the bottom drawer of my desk. Nope. I can't find them. Money goes to the state.
I see this happening. -
I'd like five minutes in a locked room with the RIAA Executive Council...
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if you gave them the special, there wouldn't be anything left.
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Originally Posted by indolikaa
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Originally Posted by gitreel
Damn straight! I'd make the Tsar Bomba shot look like a bursting pimple in comparison. -
so hang on, they are not only distributing, but making profit from works that they're not entitled to! that's WORSE than filesharers, only stupid people PAY for warez, it seems the music labels are quite happy to sell warez to an ususpecting public!
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yeah not only that but I ran across this having to do with boycotting dvd sales.
BoycottDVDsales,cin
Posted by CodeWarrior on May 4, 2004 at 1:25 PM (printer friendly)
What is the purpose of this website ?
Simple....To allow all buyers of DVD's and similar media the right to make a single backup copy without being threatened of legal action from the Motion Picture Companies. We firmly believe that the recent actions against "DVD Backup Software Companies" is completely ridiculous and may be unconstitutional. These companies are simply providing a solution to a problem the Motion Pictures Companies so want us to know, DVD's do not last forever. Recent studies have found that an unopened DVD's shelf life is 10 years or less, and this is an unopened DVD.
Every consumer in the world has a right to protect and preserve their investments, to include their DVD collections. The Motion Picture Companies make billions a year in profits from us, yet not one company to date is willing to replace a DVD if it becomes scratched or damaged after purchase. Why? Because they want you to buy another copy. This is the same reason Disney Pictures puts their big movies in "The Disney Vault" for years at a time...
http://boycottdvdsales.com/
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