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Beatles settle EMI royalties row Beatles settle EMI royalties row
(30 minutes later)
The Beatles' record label, Apple Corps, has settled its royalties dispute with music giant EMI. The Beatles have agreed a deal with music giant EMI to settle the band's battle for £30m in unpaid royalties.
Sir Paul McCartney, Ringo Starr and the widows of John Lennon and George Harrison had claimed EMI owed £30m in missing royalties from album sales. Sir Paul McCartney, Ringo Starr and the widows of John Lennon and George Harrison took legal action in 2005, claiming money from album sales.
"I can confirm that we have reached a mutually acceptable settlement and that we are not going to say anything more than that," an EMI spokeswoman said."I can confirm that we have reached a mutually acceptable settlement and that we are not going to say anything more than that," an EMI spokeswoman said.
The agreement could now pave the way for legal downloads of the band's hits.The agreement could now pave the way for legal downloads of the band's hits.
Protests The settlement ends 18 months of legal proceedings, which began after two years of negotiations.
The band have insisted their hits such as Let it Be, Hey Jude and Come Together are barred from music download sites, despite protests from EMI, which owns their recording rights. Neil Aspinall went to school with Sir Paul McCartneyWhen the case began, Neil Aspinall, head of the Beatles' company Apple Corps, said EMI was "ignoring their obligations and duty to account fairly and with transparency".
In 2005, the band began legal proceedings in London's High Court to recover the alleged missing funds. Mr Aspinall, the man responsible for the Beatles' business affairs, has just left the company after more than 40 years with the band.
Neil Aspinall went to school with Sir Paul McCartneyYesterday, it was revealed Neil Aspinall, the man responsible for the Beatles' business affairs had quit after more than 40 years with the band. The 64-year-old was head of the band's Apple Corps business, and oversaw releases like the Anthology series. The 64-year-old oversaw releases like the Anthology series and has been credited with a number of shrewd financial moves.
He was sometimes referred to as the "fifth Beatle" as he often made decisions which went on to benefit the band financially.
Mr Aspinall was behind several other legal cases brought on the band's behalf - including the recently settled dispute with Apple Computers over the Apple name and logo.Mr Aspinall was behind several other legal cases brought on the band's behalf - including the recently settled dispute with Apple Computers over the Apple name and logo.
Last week, EMI said it was still in discussions with Apple Corps over the use of Beatles songs online.