Friday, December 07, 2007

Are Blondie, EMI ripping off Peter Leeds?

That's what he believes. He managed Blondie during 1978 & 1979 and, for some reason, has been earning a percentage of the band's take ever since. We're not quite sure why.

It looks like Blondie are a little less than thrilled to be paying a guy who hasn't done a thing for them in nearly three decades, and have decided that instead of calculating his slice of the cake on gross earnings, they're subtracting the payments to producers before coming up with a figure. Leeds insists this is a "renegotiation" of the 1979 contract of pay-off, and is dragging the whole thing to court.

He's taking a risk - if the courts do agree with Blondie's reading of the document and their new interpretation, Leeds could be leaving himself open for a counter-action reclaiming twenty-five odd years of overpayment.

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