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Music compact disc distributors, retailers settle price fixing suit.
September 30, 2002 6:18 PM   Subscribe

Music compact disc distributors, retailers settle price fixing suit. But they're still busting our chops for downloading MP3s. This is ammo to Kazaa or WinMX the SOBs into submission, I say. What share of this cash will actually benefit consumers? By the way, part of the press release at the AG's site may be cut off. It's the bottom of the first page: Today’s settlement has three major components: 1. Sales Practice Changes. Defendants have agreed to an injunction preventing them from forcing retailers to increase CD prices and encouraging price competition between them.
posted by stevefromsparks (7 comments total)

 
What about the artists the record companies purportedly care about? When the record companies made those promotional payments to the record stores, did they charge the payments against the artist royalties?

Also, Reuters version of the story for those who don't want to deal with pdf articles.
posted by neuroshred at 6:56 PM on September 30, 2002


From the Reuters story: "The companies also agreed to distribute $75.7 million worth of CDs to public entities and nonprofit organizations throughout the country. " That's like, what, 75 million cds?
posted by todd at 7:29 PM on September 30, 2002


The companies, which did not admit any wrongdoing, (do they ever?) will pay $67.4 million in cash to compensate consumers who overpaid for CDs between 1995 and 2000.

With any luck this will be paid back proportional to the size of your record collection...
posted by inpHilltr8r at 7:37 PM on September 30, 2002


No kidding. All I did between 1995 and 2000 was overpay for CDs... I wonder how they'll try to do this, though. My guess is if you don't have receipts, you're SOL. Bastards.
posted by UKnowForKids at 9:17 PM on September 30, 2002


Not that great.

They paid back a tiny portion of the money they stole (that's right, STOLE) from us, and they don't have to admit any wrongdoing.

Still, their credibilty (er... not that they really had any in the first place) is shot (even more.) So that's got to be a good thing.

The argument that people use kazaa (lite, natch) etc. because CDs are over-priced, holds more weight, now.

And that's a good thing too, IMO.
posted by Blue Stone at 10:25 PM on September 30, 2002


Stole? I just, y'know, don't buy many CDs. What I do buy, I usually buy used at a local record store. Paying too much for something is^H^Hshould be an informed choice. Eh? Choice? Key word.
posted by cortex at 10:49 PM on September 30, 2002


Choice?

...not for an addict. Mind you, tween 1995 and 2000, I was mostly buying 12" singles from small independant labels, so I don't think I'll be seeing any of that phat loot anyway.
posted by inpHilltr8r at 10:04 AM on October 1, 2002


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