ASCAP Gets Theirs
Wired Reports:
Under the formula AOL owed 2006 fees of $5.95 million. That's less than the $7.83 that ASCAP wanted from AOL but much more than the $632,879 that AOL had proposed. Making this decision a clear win for ASCAP. Yahoo will have to pay royalties as far back as 2002.
A federal court on Wednesday established a formula for determining the Internet royalties owed to thousands of music composers, writers and publishers by three major online services - Yahoo Inc., AOL and RealNetworks Inc.
The American Society of Composers, Authors and Publishers hailed the decision, estimating the guidelines could yield as much as $100 million in payments covering a seven-year period ending in 2009.
Under the formula AOL owed 2006 fees of $5.95 million. That's less than the $7.83 that ASCAP wanted from AOL but much more than the $632,879 that AOL had proposed. Making this decision a clear win for ASCAP. Yahoo will have to pay royalties as far back as 2002.
posted by SG at 9:00 AM
0 Comments:
Post a Comment
Links to this post:
Create a Link
<< Home