RIAA stiffs their artists, pays $50 Mil

According to this NY state press release, a group of record labels--including Sony Music Entertainment, Warner Music Group, and Universal Music--reached a deal to pay artists $50 million in unpaid royalties:

[NY] state has reached an agreement with the major record labels and music publishers that will result in the distribution of $50 million in unpaid royalties to thousands of musicians. The payout comes after a two-year investigation into the accounting practices of the labels, which found that many artists and writers were not being paid royalties because record companies had failed to maintain contact with the performers and had stopped making required payments.

More hypocrisy. I don't think I need to say much more than that.

Update: There's an MTV article on the agreement.

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Hi, I'm Kareem Mayan. I co-founded eduFire, an online video tutoring company.

I've done time at ESPN and FIM.

I advise WorldBlu, helping them build democratic companies.

I moderated a council for Creative Good.

And, I helped bring Barcamp, a technology un-conference, to LA, which is where I live. I am now living and working in cool cities around the world.

More about me.

Opinions stated here are mine alone.

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