Fairness Rocks News Universal Music Accused of “Gamesmanship” Over Lost Recordings


Fairness Rocks News Universal Music Accused of “Gamesmanship” Over Lost Recordings

Home Industry News Universal Music Accused of “Gamesmanship” Over Lost Recordings

Author: Eriq Gardner

Date: February 14, 2020

Original Source: Hollywood Reporter

Industry News

Universal Music Accused of “Gamesmanship” Over Lost Recordings

As Universal Music Group plots an initial public offering, a move invariably meaning making all sorts of representations to investors about the financial health of its business, the company continues to find itself on the defensive over a 2008 backlot fire that resulted in substantial damages to its vault. That fire became the subject of renewed attention this past June when The New York Times shined a spotlight on what it called “the biggest disaster in the history of the music business.” The story revealed old court records as well as an assessment by UMG at the time that more than 118,000 original music recordings had been destroyed. UMG chairman Lucian Grainge said that artists were owed “transparency,” but on Thursday, a group of suing artists say they’ve got anything but transparency; instead, they claim, the company is engaged in “gamesmanship.”

Read more: https://www.hollywoodreporter.com/thr-esq/universal-music-accused-gamesmanship-assessment-lost-recordings-1279396