Beatles, EMI settle royalty dispute
updated 09:05 am EDT, Thu April 12, 2007
Beatles settle with EMI
Music fans may soon finally be able to digitally purchase songs from The Beatles. Apple Corps, the company representing the pop band, has settled a $59 million royalty dispute with EMI Group. Heralded as the last hurdle before digital distribution of the Liverpoool's band music, the royalty settlement comes on the heels of a revolutionary DRM-free music distribution agreement by EMI and this week's announcement of the departure of a key Apple Corps executive.
Apple Corps, which settled with settled with Cupertino-based Apple earlier this year over the use of the Apple brand name, is owned by Paul McCartney, Ringo Starr and the families of John Lennon and George Harrison. Apple Corps had threatened to sue EMI in December 2005 after negotiations broke down over royalty payments from its music contract, the report said.
"We have settled on mutually acceptable terms and there will be no further comment," a spokeswoman for EMI told Reuters. A spokeswoman for Apple Corps said the deal had been agreed last month but would not give any further details.
The report notes that Apple and EMI previously fought a separate, decade-long courtroom battle over royalties and other issues which was resolved out of court in 1989.
