ABC Money
Home

Beatles' Apple Records sues EMI over unpaid royalties

Apple Records, the legacy of the Beatles group, is suing record company EMI Group for 30 million pounds in unpaid royalties. Apple Records, owned by Sir Paul McCartney, Ringo Starr and the successors of John Lennon and George Harrison, said a recent audit had found that EMI, which owns the copyright of all Beatles music recordings for life, has not fulfilled the terms of a contract.

Published :
Sun, 18 Dec 2005 04:05
By : Cedric Benson
Print this Story


AddThis Social Bookmark Button

LONDON: Apple Records, the legacy of the Beatles group, is suing record company EMI Group for 30 million pounds in unpaid royalties. Apple Records, owned by Sir Paul McCartney, Ringo Starr and the successors of John Lennon and George Harrison, said a recent audit had found that EMI, which owns the copyright of all Beatles music recordings for life, has not fulfilled the terms of a contract.

The two entities were engaged in court cases over royalties previously. In the present case, Apple Records said EMI continued to persist in ignoring its obligations and duty to account fairly and with transparency. "Apple and The Beatles are, once again, left with no choice but to sue EMI."

Apple Records filed suits Thursday in the High Court of London against EMI and in the Supreme Court in New York against EMI subsidiary Capitol Records.

Apple Records said it had to resort to legal action as negotiations did not succeed. It is seeking payment of royalties for the band's entire output, dating back to 1962, when the music group signed for EMI's Parlophone label.

An EMI spokesperson said artists do sometimes request an audit of their record label's accounts. Sometimes there are differences of opinion, especially when the contracts are large and complex. "Ninety-nine out of 100 audit problems are resolved by amicable settlements for a small fraction of the claim," she said.

The Beatles had formed Apple Records in 1968 and had signed a deal with EMI for distribution. The relationship between the two had never been cordial. Apple Records had alleged that EMI secretly sold or gave away millions of records to retailers. In a recent case in 1991, Apple Records raised a dispute over the release of the Beatles' red and blue albums on CD. A High Court judge ruled in favour of the band's contention that it maintained artistic control over its output.


Share on


 You Might Like
Lennon relic gets 600,000 pounds at auction
Music downloads cross 10 million mark in UK
+

Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
8046.42
+494.13 ( 6.54 %)
NASDAQ
1384.35
+68.23 ( 5.07 %)
FTSE 100
3780.96
-94.03 ( -2.43 %)

SYMBOL ( 2008-11-21 )
LAST
CHANGE
ANGLO AMERICAN ( 11:30am )
1135.00
+81.00 ( 7.43 %)
RIO TINTO ( 11:29am )
2100.00
+78.00 ( 3.72 %)
VEDANTA RESOURCES ( 11:29am )
449.00
+61.25 ( 15.40 %)
BHP BILLITON ( 11:29am )
791.00
+38.50 ( 4.94 %)
ANTOFAGASTA ( 11:29am )
355.00
+36.00 ( 11.21 %)

SYMBOL ( 2008-11-21 )
LAST
CHANGE
EXXON MOBIL CORP ( 4:00pm )
75.81
+7.30 ( 10.46 %)
3M COMPANY ( 4:02pm )
61.30
+4.51 ( 7.81 %)
PROCTER GAMBLE CO ( 4:00pm )
63.09
+3.76 ( 6.26 %)
UNITED TECHNOLOGIES CORP ( 4:01pm )
46.67
+3.45 ( 7.88 %)
IBM ( 4:01pm )
74.88
+3.14 ( 4.32 %)

SYMBOL ( 2008-11-21 )
LAST
CHANGE
MITSUI & CO LTD ( 3:59pm )
159.00
+17.56 ( 11.77 %)
RANDGOLD RES LTD ( 4:00pm )
33.41
+6.68 ( 21.69 %)
ATRION CP ( 4:00pm )
82.00
+6.53 ( 8.62 %)
INTUITIVE SURGICAL INC ( 4:00pm )
118.26
+6.52 ( 5.68 %)
AMER NATL INS CO ( 4:00pm )
61.05
+6.03 ( 10.40 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.