Thursday, July 05, 2007

Sony BMG asks Jackson to let it sign writers

In one of those shrewd business moves which only highly paid music industry executives could come up with, it turns out when Sony cut its deal with Michael Jackson to get together to buy the Beatles publishing, they agreed to never launch a rival publishing business in competition with their Sony/ATV concern. In other words, every time it wants to sign a publishing deal, it has to go via Sony/ATV, and wait for Jackson's OK.

Yes, a major record label made a blood oath to not invest in songwriting unless Michael Jackson said okay.

It has, somewhat belatedly, realised that this is like a butcher signing a deal to never sell cheese, and is trying to weasel out of the deal ("trying to renegotiate"), reports The Times.

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