How did John Lennon and Paul McCartney lose the copyrights to their Beatles song!
Question: In 1963, their publisher, Dick James, set up a company to own the copyrights called 'Northern Songs, Ltd.', mainly as a tax shelter. The idea was that it would be a public company, listed on the London stock exchange. All four band members and James owned stock.
In 1969, James was concerned the band was getting too weird, and panicked; he sold his stock to Lew Grade, then head of ATV music. This set off a furious struggle between the band and Grade to get a controlling interest in Northern Songs. A consortium of businessmen that had a combined trust of stock eventually fell into Grade's hands, and the Beatles lost control of Northern. They then sold their shares and their songwriting contract with Northern expired in the early '70's.
Grade sold his interest in Northern to Michael Jackson in the early '80's. Since then, Jacko has had to sign a majority interest in the company to Sony to finance his erratic lifestyle. McCartney has made several offers to buy Northern back, but has been rebuffed each time. He does however own several early songs that predate the Northern era, such as "Love Me Do" and "PS I Love You".
McCartney (and the Lennon & Harrison estates) are still paid royalties as composers, and the band does own the recordings (administered by EMI, who possess the physical master tapes).
Answers: In 1963, their publisher, Dick James, set up a company to own the copyrights called 'Northern Songs, Ltd.', mainly as a tax shelter. The idea was that it would be a public company, listed on the London stock exchange. All four band members and James owned stock.
In 1969, James was concerned the band was getting too weird, and panicked; he sold his stock to Lew Grade, then head of ATV music. This set off a furious struggle between the band and Grade to get a controlling interest in Northern Songs. A consortium of businessmen that had a combined trust of stock eventually fell into Grade's hands, and the Beatles lost control of Northern. They then sold their shares and their songwriting contract with Northern expired in the early '70's.
Grade sold his interest in Northern to Michael Jackson in the early '80's. Since then, Jacko has had to sign a majority interest in the company to Sony to finance his erratic lifestyle. McCartney has made several offers to buy Northern back, but has been rebuffed each time. He does however own several early songs that predate the Northern era, such as "Love Me Do" and "PS I Love You".
McCartney (and the Lennon & Harrison estates) are still paid royalties as composers, and the band does own the recordings (administered by EMI, who possess the physical master tapes).
They sold them early on for far far less than wha they are worth today. Not all of them.. The songs on Columbia Records
I don't know, they sold them I think. Michael Jackson owns them now unless he has sold them as well.
They didn't loose copyrights but sold cataloge that was atached to "EMI" to micheal jackson for an outlandish price...at aution, Beatles music was under that label... not owned outright by an individual..