Google and RIAA Reach Historic Deal; Labels to Receive Billions in Reparations

Share with your network.

Moses Avalon

APRIL 1, 2013, LOS ANGELES

In a surprise move today Google announced a joint venture with the RIAA.

In exchange for the RIAA giving a license to all recorded music in all of its affiliated labels for one dollar ($1) Google will tender $14.75 Billon in preferred stock at a strike price of 25% below OTC value.

This is effectively and net profit of $32 billion for RIAA affiliated labels.

No press release was issued and the deal was announced only at a private stockholder meeting. Both parties agreed on the value of the deal, which neither party called a “settlement,” based on the estimated amount of revenue that Google earned from advertising sales derived over the past decade by diverting traffic away from legitimate stores like iTunes, Rhapsody, etc. and to ad-sponsored illegal peer-to-peer file-sharing networks.

This deal mimics the settlement made with the Department of Justice in 2011 over similar circumstances regarding Google’s sponsored ads for foreign pharmaceuticals.

http://www.justice.gov/opa/pr/2011/August/11-dag-1078.html

Calls to the office of the Attorney General as to whether or not this private deal was to fend off a pending legal action against Google were not returned.

The money is to be paid out in installments over the next six years. 7% of the fund has been earmarked to go towards The Moses Avalon Company for continued efforts in artist rights advocacy and public awareness on this issue.

 

Share with your network.

13 responses to “Google and RIAA Reach Historic Deal; Labels to Receive Billions in Reparations”

  1. John Beecher says:

    Very good, Moses, if only you were really getting it!
    Happy April 1st….

  2. I can’t wait to see how this pans out..

  3. mike c. says:

    You had me up until i saw “7% of the fund earmarked to go towards The Moses Avalon Company”. HA..you wouldn’t be writing newsletters for that kind of scratch, you’d be on a plane to Tahiti..

  4. LOL.. nice! Thanks for putting the 7% clue in there. Otherwise, I’d be trying to figure out how our artists can get their cut! lol

  5. lol. Tuscany sounds nice. Bello! Bello! Ciao!

  6. Osiris Munir says:

    We just think its funny that everyone thought that this was factual information…ha ha ha…..Happy April Fools

  7. Thanx again forbinfo track… “Everything’s Negotiable”- R. Dawson

Leave a Reply

Your email address will not be published. Required fields are marked *

css.php