The sad thing is that the artists will not receive any royalties from the 5.5 million CD's that are going to be distributed.
And every public library will be blessed with a copy of the soundtrack to "Glitter" .... On 1 Oct 2002 at 15:56, dsk wrote: > Entertainment: Companies to settle CD price-fixing suit > > Copyright ) 2002 AP Online > > By LARRY NEUMEISTER, Associated Press > > NEW YORK (September 30, 2002 6:49 p.m. EDT) - The five top U.S. > distributors of compact discs and three large music retailers have > agreed to pay $143 million in cash and CDs to settle charges they > cheated consumers by fixing prices, authorities announced Monday. > > The settlement brings to a close accusations made by attorneys general > of 41 states and commonwealths who accused record companies of > conspiring with music distributors to boost the prices of CDs between > 1995 and 2000. > > The companies broke state and federal antitrust laws, costing > consumers millions of dollars, the attorneys general had charged in a > lawsuit filed in August 2000 in U.S. District Court in Manhattan and > later moved to Portland, Maine. A judge there must approve the deal. > > The settlement calls for $67.3 million cash to be distributed to the > settling states to compensate consumers who overpaid for CDs during > the period and to pay settlement administration costs and attorneys' > fees. > > Consumers who bought CDs between 1995 and 2000 can file claims for > part of the fund, prosecutors said. Public announcements will be made > later to inform consumers how to participate in the payout. > > The settlement also requires 5.5 million CDs valued at $75.7 million > to be distributed to public entities and nonprofit organizations in > each state to promote music programs. > > The settlement will be distributed according to state population, > although attorneys in the case are still working to determine a > formula. New York, for example, will receive about 6 percent of the > settlement. > > Consumers in all 50 states will benefit under terms of the settlement, > New York State Attorney General Eliot Spitzer said in a statement. > > "This is a landmark settlement to address years of illegal > price-fixing," Spitzer said. "Our agreement will provide consumers > with substantial refunds and result in the distribution of a wide > variety of recordings for use in our schools and communities." > > More at > http://www.nandotimes.com/entertainment/story/557116p-4389874c.html > > DS
