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Major Labels
by Marc on July 13, 2006
Fox News covered Steve Popovich's ordeal. Steve is a former Sony Music executive who brought meat Loaf and his monster "Bat Out of Hell" album to the label in 1977. Sony breached its contract with him. Eventually they settled in 1998. But Sony refused to pay. Steve sued and won a $5 million judgement in May 2005. SonyBMG still has not paid.
In the article, Popovich says, "I lived up to my word; I signed an 82-page contract with CBS, now Sony/BMG, in 1977, after being an employee for 20 years, that gave them ownership of one of the biggest albums in the history of the music business.
"To date, 'Bat Out of Hell' has sold over 40 million and at one time was listed in the top five albums ever released. In return, I was to receive a royalty and my Cleveland International Records logo on all Meat Loaf master recordings. I had to sue to get them to do either. I still don't know when, or if, I will receive the settlement in this case. In the meantime they hope you die or go broke so they can continue to rob your kids and grandkids."
Permalink: Sony Anti-Fan Club
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/29176
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Recent news highlights that there are good guys and bad guys in the corporate world. Shit happens. No major music companies are pure. All have settled for millions of dollars in the radio payola lawsuits. It's what they do afterward...
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