Spitzer taking on Payola
I am really becoming a fan of Eliot Spitzer. I understand that he will probably parlay the publicity of all of his high profile cases into a career politics and that all of this might be to JUST to make a name for himself. Still … this guy is taking on a LOT of Corporate Corruption and it is about time. Check this this from the NY Times.
According to several people involved, investigators in Mr. Spitzer’s office have served subpoenas on the four major record corporations - the Universal Music Group, Sony BMG Music Entertainment, the EMI Group and the Warner Music Group - seeking copies of contracts, billing records and other information detailing their ties to independent middlemen who pitch new songs to radio programmers in New York State.
My favorite quote:
Since the big companies severed their ties to the practice, record labels - suffering from piracy and other financial woes - have sharply scaled back payments to the middlemen, and by some estimates pay them as little as $30 million annually.
only 30 Mil ?? How will they eat ?
