Post by lennie on Apr 12, 2007 8:40:50 GMT -5
Beatles settle EMI royalties row
The Beatles have agreed a deal with music giant EMI to settle the band's battle for £30m in unpaid royalties.
Sir Paul McCartney, Ringo Starr and the widows of John Lennon and George Harrison took legal action in 2005, claiming money from album sales.
"I can confirm that we have reached a mutually acceptable settlement and that we are not going to say anything more than that," an EMI spokeswoman said.
The agreement could now pave the way for legal downloads of the band's hits.
The settlement ends 18 months of legal proceedings, which began after two years of negotiations.
When the case began, Neil Aspinall, head of the Beatles' company Apple Corps, said EMI was "ignoring their obligations and duty to account fairly and with transparency".
Mr Aspinall, the man responsible for the Beatles' business affairs, has just left the company after more than 40 years with the band.
The 64-year-old oversaw releases like the Anthology series and has been credited with a number of shrewd financial moves.
Mr Aspinall was behind several other legal cases brought on the band's behalf - including the recently settled dispute with Apple Computers over the Apple name and logo.
Last week, EMI said it was still in discussions with Apple Corps over the use of Beatles songs online.
Story from BBC NEWS:
The Beatles have agreed a deal with music giant EMI to settle the band's battle for £30m in unpaid royalties.
Sir Paul McCartney, Ringo Starr and the widows of John Lennon and George Harrison took legal action in 2005, claiming money from album sales.
"I can confirm that we have reached a mutually acceptable settlement and that we are not going to say anything more than that," an EMI spokeswoman said.
The agreement could now pave the way for legal downloads of the band's hits.
The settlement ends 18 months of legal proceedings, which began after two years of negotiations.
When the case began, Neil Aspinall, head of the Beatles' company Apple Corps, said EMI was "ignoring their obligations and duty to account fairly and with transparency".
Mr Aspinall, the man responsible for the Beatles' business affairs, has just left the company after more than 40 years with the band.
The 64-year-old oversaw releases like the Anthology series and has been credited with a number of shrewd financial moves.
Mr Aspinall was behind several other legal cases brought on the band's behalf - including the recently settled dispute with Apple Computers over the Apple name and logo.
Last week, EMI said it was still in discussions with Apple Corps over the use of Beatles songs online.
Story from BBC NEWS: