Wednesday, April 16, 2014

A Long, Proud History of Stealing From Artists

This was buried in a story about legal settlements and Hollywood:

In October 2011, the estate of Rick Nelson sued Capitol Records for allegedly underreporting royalties. Among the allegations was the claim that the record label was in possession of up to $250 million in "unmatched income," money that Capitol claimed it couldn't link to any particular artist. The heirs of the author of songs including "Travelin' Man" and "Poor Little Fool" have now reached a deal. Neville Johnson, the attorney for the plaintiff, said the issue was "amicably resolved." [emphasis, mine]

A quarter of a billion dollars is in the hands of one record company, and they don't have any idea how they made that money or which artist(s) made it for them? And so they cannot pay it out?

If that's not evidence of fraud, corruption, and outright theft, then what the hell is? Jeebus.

The Nelson estate was paid off, so go away now while we rake in the bucks and stiff the people who don't have lawyers to come after us. Is that basically how Capitol Records still operates? Good for them. Nice work if you can get it.

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