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?
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