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| Federal ruling court force $100 million payment to music society |
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| Business and Law | ||||||
| By Humphrey Cheung | ||||||
| Thursday, May 01, 2008 09:33 | ||||||
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New York (NY) – A federal court ruling could mean big bucks to the American Society of Composers, Authors and Publishers (ASCAP). Judge William Conner has ruled that major service providers like Yahoo, AOL and Real Networks could pay up to $100 million dollars to the non-profit music rights group. Conner outlined a formula where providers would be required to pay 2.5% of revenue to the 320,000 member ASCAP organization.
If you are bored – really really bored – you can read the 153-page ruling here. Read more … Associated Press via Google.
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