Eriq Gardner of THR, Esq. takes on the analysis on the recent Beatles deal that got the Beatles music on Itunes. It is a must read as Gardner delves into the royalty fees that was an impediment prior to the deal.
“Perhaps you’ve heard the news — a certain band from Liverpool has come to iTunes.
In the aftermath of yesterday’s announcement that Apple’s iTunes store will begin selling the Beatles catalogue, most commentators were struck by how long it took to make this happen.
Us? We’re impressed with the speed of the dealmaking.
Apple Corps, the corporation founded by the Beatles in 1968 (and not to be confused with Apple Inc.) hired its primary lawyers not too long ago. According to an interview with UK publication The Lawyer, the law firm of Eversheds was retained on October 25 to draft the contract. Less than two months later, working in secret, bam — the announcement.
The speed of the dealmaking suggests that the major impediment to selling Beatles songs in digital format had largely been worked out by the time it was time to negotiate with Steve Jobs’ company. . .”
—-Full Story on THR Esq.