Beatles and EMI come together
Apple Corps Settles EMI Suit
Associated Press 04.12.07, 10:11 AM ET
The Beatles’ Apple
Corps company has settled a royalties dispute with record label EMI, the two
companies said Thursday, raising hopes that Beatles recordings (Michael Jackson
and Sony own the publishing rights) may soon be legally available online.
"It was settled on
mutually acceptable terms last month," Apple Corps and EMI said in a joint
statement. They refused to provide details of the settlement.
Apple Corps Ltd., the
company owned by Paul McCartney, Ringo Starr and the widows of John Lennon and
George Harrison, sued EMI Group PLC in 2005 to recover what the band said was
more than 30 million pounds ($60 million) in unpaid royalties. EMI releases
Beatles recordings under the Apple label.
Apple Corps is a zealous
guardian of The Beatles’ interests. In February it settled a long-running
trademark dispute with computer company Apple Inc. over the distinctive apple
logo and name.
The Beatles have
consistently refused to license their songs for music download sites, despite
the desire of EMI to do so.
The legal settlement leaves
EMI and Apple Corps free to negotiate a new royalties agreement that would
include Internet sales.
Neither company would
comment Thursday on whether such an agreement was imminent. At a news
conference last week, however, EMI Chief Executive Eric Nicoli said the company
was seeking to make the Fab Four catalog available online.
"We’re working on it,
we hope it’s soon," he said.http://www.forbes.com/feeds/ap/2007/04/12/ap3605917.html