Fact #100203
When:
Short story:
Capitol Records in the USA secures an out-of-court settlement with Vee-Jay Records of Chicago, Illinois, in their fight over the rights to certain of The Beatles recordings. The agreement states "Vee-Jay accepts a licence from Capitol to sell its product, with Vee-Jay paying Capitol royalties, including substantial payment for The Beatles royalties to date and a licencing fee for the future."
Full article:
Calvin Carter (A + R man, Vee-Jay Records] : We finally made something out of the court settlement, because we just couldn't afford to fight that big a company. We kept what we had, and they had all future product.
We were selling so many Beatles records, we just couldn't afford to fight for the five-year rights. At that point, we had even got a ten-year moratorium from our creditors on our outstanding bills, that we'd just keep them coming. There was a lot of pressure on us. We sold in one month's time about 2.6 million Beatles singles on Vee-Jay and Tollie.
Betty Chiappetta (Vee-Jay) : Vee-Jay started the Tollie label when they moved (from Chicago) to California, with Twist And Shout by The Beatles as the first record issued. The reason that they started this new label was that they had so many records that were getting airplay during that time that the radio stations were giving them a hard time. At one point, they had 14 of the top 100 on either Tollie or Vee-Jay. So they started another label.
(Source : unknown)
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We were selling so many Beatles records, we just couldn't afford to fight for the five-year rights. At that point, we had even got a ten-year moratorium from our creditors on our outstanding bills, that we'd just keep them coming. There was a lot of pressure on us. We sold in one month's time about 2.6 million Beatles singles on Vee-Jay and Tollie.
Betty Chiappetta (Vee-Jay) : Vee-Jay started the Tollie label when they moved (from Chicago) to California, with Twist And Shout by The Beatles as the first record issued. The reason that they started this new label was that they had so many records that were getting airplay during that time that the radio stations were giving them a hard time. At one point, they had 14 of the top 100 on either Tollie or Vee-Jay. So they started another label.
(Source : unknown)