p2pnet - rss feed: Sony BMG to bail out Jackson?
p2p news / p2pnet: Whether you agree Michael Jackson got his fair dues or not, he’s still one of the unlovely and at a time when Sony BMG has been found guilty of secretly loading crap DRM spyware onto customer’s computers through music CDs, this item of news is particularly interesting.
And when you read it, bear in mind Sony BMG is part of the Big Four record label Organized Music gang that claims it’s being ‘devastated’ by file sharers and is also right up front in what may turn out to be an intensified Big Four onslaught against children.
According to Fox News (yeh - but anyway ….) Sony Music, Jackson’s partner in the, "$1 billion Sony/ATV Music Publishing Company, is offering to step in and help Jackson with his $270 million worth of loans.
"The loans — $200 million of which are secured by Jackson’s 50 percent share in Sony/ATV - were bought in April by Fortress Investments from Bank of America. Jackson is in default and could be foreclosed on as early as tomorrow.
"But sources inside Sony say the company has been in talks with Fortress for some time about clearing up Jackson’s financial woes and bringing him current at least on monthly payments."
Fox has a "Sony insider" saying "This would be in our best interests," pointing out that if Fortress forecloses on Jackson, Sony would be farther away from owning his half of the company than they are now."
Tired of being treated like a criminal? They depend on you, not the other way around. Don’t buy their ‘product’ for Christmas or at any other time. Do bug your local political representatives. Use emails, snail-mail, phone calls, faxes, IM, stop them in the street, blog. And if you’re into organizing, organize petitions, organize demonstrations and then turn up on your local political rep’s doorstep, making sure you’ve contacted your local tv/radio station/newspaper in advance.
Also read:-
against children - RIAA ready to attack more kids, December 20, 2005
Fox News - Sony May Keep Jacko From Bankruptcy, December 19, 2005
December 20th, 2005 at 8:29 pm
Sony is “helping” Jackson because Jackson know how Sony does their payola thing. How else could Jackson sell so many records with songs that no one has recorded again, a sign they were not so good. Then also Jackson speaks out when angry at Sony. He already did it when he called Sony racist. It is a form of deserved blackmail. Like in politics.
December 23rd, 2005 at 11:45 am
Poor Jackson, a kid with talent
too much payola
too many lawyers
too many financial consultants
too many friends everybody loves millionaines
too much hollywood
too much glamour
too much idolatry
too much press
too much money
too much like Elvis
Signs of a sick country