NEW YORK — Time Warner Inc. reported a fourth-quarter loss, hurt by a $24.2 billion writedown for its cable, publishing and AOL assets.

The New York-based media and entertainment company posted a loss of $16.03 billion, or $4.47 per share, compared with profit of $1.03 billion, or 28 cents per share, a year ago.

http://www.huffingtonpost...63799.html
[Edited 2/4/09 7:15am]

Prince already owns his publishing. Universal Music Group simply administers the publishing rights.

Or do you mean he could buy his masters?

I doubt he'd pay for something he feels he's legally entitled to without payment.

Genesia said:

Sorry...his masters....how much are they worth to warners? ...would they sell them to him ? they must have made back the money and then sum from the old contract with P by now ?

LondonStyle said:

Lol The masters to the original Purple Rain are priceless. WB would and never will sell them xept if theyd go bankrupt

Lovesymbol2 said:

WARNER BROS.music was bought a few years back by the guy whose family owns/owned SEAGRAMS alcohol.They probably own ALL back catalogs from WARNERS.That's where the real $ is these days anyway.All PRINCE has to do is wait a few more years.2013 to be exact for his MASTERS to revert back to him one by one.For example. 2013 he will get FOR YOU back.2014 he will get PRINCE back.2015 he will get DIRTY MIND back.Etc.etc.35 years after an albums release the law states that ownership will revert back to "author".He has 4 years.Not long at all.

kindofblue7 said:

Wow, I was unaware that Prince would be able to receive his masters back for his work...that's great!

is that true? he really getting them back. where's Boris fishpaw who knows everything.

sexyAuntyFuka said:

It is true. According the contracts, WB owns the masters for 35 years. For You was released in 1978. 1978 + 35 = 2013

kindofblue7 said:

are you sure about that? becuz the "author" could be defined as the record company.

It's true.

Unless the recordings are considered a 'work for hire' (if this was mentioned in one of the contracts P signed) then he might not get them back. And a big company like Warners would definitely play the 'work for hire' angle in trying to keep hold of the music:

Work For Hire
"If rights are assigned to the record company, then at the conclusion of 35 years, when an artist notifies the record label that they intend to recapture those rights, the scenario is a little different. The record company can still claim the recordings in question are a work for hire since they most likely have a contract stating this, and what's being negotiated is a "sound recording" and therefore fulfills the two criteria of works for hire."

Additionally, an artist can notify his or her intent to recapture rights up to 10 years before the end of the assignment period.

cb70 said:

I believe he will get his masters back in 35 yrs from the date of release starting in 2013. Seems like an aweful long time to wait, but it is just 4 more years. That should make Princey happy, he has been unhappy for so long now.

Prince has even stated in public (I heard him say it at Paisley Park) that the rights to the masters begin to revert to him (in accordance with the 35 year rule).

kindofblue7 said:

link? info???? thanks

myloveis4ever said:

Links for what?

Warners history:

http://en.wikipedia.org/w...s._Records

Edgar Bronfman Jr: CEO of Warner Music Group

http://en.wikipedia.org/w...onfman_Jr.

The law relating to the reversion of the masters after 35 years was embodied in The 1976 Copyright Act. An attempt was made to sneak in sound recordings as aWorks For Hire class, but the Coalition For Artists managed to ensure the law effectively stayed the same.

Background articles:

http://www.wallacecollins...rhire.html
http://weeklywire.com/ww/...ature.html

langebleu said:

thanks 4 the info

So, he gets them back, then what?

So I guess I'll finally be able to get a high quality copy of Crystal Ball in 13 years?



[Edited 2/4/09 20:30pm]

Dayclear said:

Then he burns them and releases the re-recorded versions with altered lyrics, like Spirituality (= Sexuality)

HamsterHuey said:

Boo on that idea, says I. Lil Guy can just go and record some new music to match his recent belief system. It'd be a shame to see years worth of work buggered up because they're no longer worthy...

sorry but this is all grade a, 24 carat bullshit.

Why then do the beatles not own their back catalogue? Doesn't MJ still own a few

sexyAuntyFuka said:

This thread is discussing the reversion of rights to master recordings.

Michael Jackson purchased publishing rights to some of the Beatles' songs as opposed to the rights to master recordings.

Your initial comment was therefore misplaced.

langebleu said:

Ah yesss!!
`For You` remaster?
Where is it?
Hmmm?

Or do you mean: 'WILL begin...' ?
[Edited 2/5/09 7:38am]

udo said:

I mean they will begin to revert to him in 2013 because they begin to revert to him in accordance with the 35 year rule. i.e.

'For You' ... released 1978 + 35 = master rights revert back in 2013 (subject to Prince having filed the appropriate notice,on WB, which I'm sure he will do / have done).

We could get remasters in Prince's lifetime - minus the 35 year rule, if he would somehow mend fences with Warner Bros.

SOTT remastered
PR remastered
Parade remastered
Lovesexy remastered
1999 remastered
Dirty Mind remastered
Controversy remastered
Black Album remastered
ATWIAD remastered

squirrelgrease said:

Do you actually think P would reissue remasters after he regains the rights to them?

Does it really matter? The guy is rolling in it anyway!

All I hope for is some kind of annual remaster of each album - For You, Prince, Dirty Mind (he won't do it) and Purple Rain in new technicolor sound!!

langebleu said:

However, the 35 year rule applies to all copyright transfers, including publishing rights.

That rule however wasn't the law before the 1976 revision of the US copyright Act.

langebleu said:

He said that, but that doesn't mean that will automatically happen with all recordings.

I am pretty sure WB intends to come out with all they got to prevent that. Work for hire being one of them, but not the only one.

Don't forget, that even if Prince did not make works for hire for WB, his band members may not have done that either. If they also manage to retain their rights, they will jointly own the recordings they played on with Prince.

Or, in the other case, that their contributions are works for hire, but Prince's are not, there will be the problem of Prince still not owning any and all rights of the recordings he collaborated on with others, but together with WB.

Now Prince recorded, played and sang everything on For you and Prince himself so that should not be a problem. With later albums however there are bound to be issues.

That is unless they can all agree with eachother and work something out that everybody, including the fans benefit from.

--
[Edited 2/5/09 14:15pm]