The Beatles Settle Emi Royalty Dispute
THE BEATLES have settled a GBP30 million ($58.5 million) dispute over royalty payments with record company EMI - the final hurdle in making the band's back catalogue of hits available to download online.
In 2005, the Hey Jude hitmakers accused EMI of underpaying surviving members Sir Paul MCCartney and Ringo Starr, and the relatives of late Beatles John Lennon and George Harrison for record sales between 1994 and 1999.
While details of the new agreement remain confidential, it is claimed The Beatles will receive a multi-million pound sum as part of the settlement, according to The Daily Telegraph.
The deal clears the way for new talks between the two parties over royalty terms from the sale of The Beatles' hits online, with EMI boss Eric Nicoli recently (apr07) saying the label was "working on it".