It seem even Paul knows when its time to get off of a collapsing Cartel members books http://www.p2pnet.net/story/38763
In the latest setback for EMI Group Ltd., Paul McCartney has joined a parade of well-known artists headed for the exits at the struggling global music giant, handing world-wide distribution rights for his catalog”, says the Wall Street Journal.
McCartney has “been out of contract with EMI for newly recorded music since 2007 but in February he regained control of the vast library of albums he released between 1970 and 2006, both as a solo artist and as the leader of the band Wings. It is that catalog that he now is yanking from EMI.”
EMI “declined to comment”, says the story, adding, “The label is battling to remain independent, after breaching the terms of a £3.2 billion ($4.91 billion) loan this month.”
Its very pleasing to see EMI in such dire straits given that they have over the years paid money to the RIAA and others to launch attacks of both filesharers and innocent folks with their scattergun approach to music monopoly enforcement, lets hope the others collapse in the same way and smaller more future looking labels step out from the shadows of the cartel to offer improved terms to artists anf a better deal for fans who whatever the Cartel claim buy what they enjoy.