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Tuesday, March 09, 2004

Overheard from Steve Bogart

Saturday, 28 February 2004

This week our CD MAP Settlement checks came. (This was the penalty against record companies for collaborating to keep CD prices artificially high.) $13.86 each, woo.

They must have come up with enough signups to use up the money without giving everyone $20.

The companies, who are settling by paying out $67,375,000 in cash and $75,700,000 in free discs (who's getting those? the language is both pretty and vague), maintain that they did not engage in the alleged price-fixing behavior... but are willing to settle out of court for over a hundred million dollars.

You know, just like any innocent companies with access to top-notch lawyers would.

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