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Universal Music Group is being sued by the estates of Tom Petty, Tupac, Soundgarden, Steve Earle and Hole. Back in 2008 there was a huge fire that destroyed an estimated 500,000 master recordings by artists ranging from Nirvana to Billie Holiday. They were held in a facility that UMG had rented from NBC and value the losses from the fire at $150 million.
According to the lawsuit its looking for:
“50% of any settlement proceeds and insurance payments received by UMG for the loss of the Master Recordings, and 50% of any remaining loss of value not compensated by such settlement proceeds and insurance payments.”
Mandatory Credit: Photo by Jim Smeal/BEI/Shutterstock (766815b) Plume of black smoke rising from the back lot Fire at Universal Film Studios, Hollywood, Los Angeles, America – 01 Jun 2008 Fire erupted early Sunday morning June 1, 2008
Don’t really know if thats a good thing or a bag thing but Courtney Love’s band Hole will release ‘America’s Sweetheart’ on April 27th. It took her about 5 years, 3 producers and her own money to finally get it together. Here’s her song ‘Samantha’ from the upcoming album as she performed on the BBC TV show Friday Night With Jonathan Ross last week.