July 31, 2003 7:32 AM Subscribe
Music labels charged with price-fixing ... again
While their organization is fighting hard to picture potential consumers as de-facto delinquents, the FTC has issued a rulign prohibitng them from agreeing with competitors to fix the prices or restrict the advertising of products they produced independently
The labels deny any wrongdoing, as they did with earlier FTC charges of a much larger price-fixing scandal that cost consumers an estimated $480 million
(and was settled by paying 41 suing states $67.4 million in cash and offering $75.7 million in CDs.).
Here is an idea: the main culprits of the labels losses, by far, are the rapidly receding sales of ...
cassette, LP and vinyl products
. Who'd have thought of that?