Here are some interesting things

Powered by Blogger

Tuesday, May 29, 2007

Record companies win £41m damages

Online retailer CD-Wow must pay £41m to British record companies after breaking a deal to stop selling illegally imported cheap albums in the UK.

The High Court in London ruled in March that the site's owners, Music Trading Online, were "in substantial breach" of a 2004 agreement to stop importing CDs.

It has now ordered Hong Kong-based CD-Wow to pay £37m plus interest to the British Phonographic Industry (BPI).

In a statement, CD-Wow said the British courts had set a "dangerous precedent".

"I fear what is happening is an attempt to use the combined brute force of the record industry to force the retailers and, in turn, our clients, to keep lining the pockets of the fat cat executives," said Mr Wesslen.

"It shouldn't matter whether we are buying from an official distributor in the UK, Europe or the Far East, what is important is that we are buying legitimate products from the record companies themselves."

Once again the British Consumer loses out to anti-competitive pricing by the big legal muscles of Industry.



Post a Comment

<;p class="comment-timestamp"> << Home