According to Digital Music News, Sound Exchange is in the midst of some serious damage control. After confirming an outstanding balance of $200 million in unpaid royalties to Digital Music News, SoundExchange is now shifting its calculations. In response to growing concern over the large amount of unpaid funds, SoundExchange executive Bryan Calhoun is backing a drastically-reduced, $39 million unpaid figure – yet, he has declined to offer any documentation or direct discussion to Digital Music News.
According to publicly-available IRS documents (click here to view see line 34, under ‘Net Assets and Fund Balances), the year-end, unpaid balance in 2008 was actually approaching $260 million ($259.7 million). Presented with that $260 million figure earlier this month, SoundExchange immediately shaved the balance down to $200 million for early 2009 based on ongoing payouts.
Click here to read more from Digital Music News…
Check out this video by Juris Vodcast on the RIAA and their law suits:
HR 848 is effecting radio stations all across the country. Debbie Bush, Vice President and General Manager of WFIE in Indiana gives her take on how the passing of the Performance Royalty Tax will effect her station.
