Labels Owe Consumers $140 Million From Inflated CD Prices, Settlement Says
The five major record label groups and the three largest music retailers have agreed to pay $143 million in cash and CDs to resolve a long-standing class action price-fixing case. The settlement, announced Monday, brings to a close allegations that the major labels and retailers had violated antitrust laws and illegally inflated the cost of CDs. At issue was a policy called “minimum advertised pricing,” or MAP, under which the major labels would jointly pay for advertising if a retailer agreed to sell CDs above a certain price. This pricing practice began nearly a decade ago as a way for… Read more »
