Record Companies Violating Antitrust Laws?

Satanus

http://news.com.com/2100-1023-244195.html?legacy=cnet

In a suit headed by the attoneys general of 28 US states, it is alleged that record companies Capital Records, Sony Music Group, Bertelsmann's BMG Entertainment, Seagram's Universal Music Group and Time Warner's Warner Music Group, along with retailers Musicland, Transworld and Tower Records have violated antitrust laws since 1995.

"Our nation's business economy has been built on the notion of a fair and free competition," New York Attorney General Eliot Spitzer, one of the lawsuit's leaders, said in a statement today. "When there is illegal activity to fix prices--as was the case here--the consumer is always the loser."

The lawsuit is based on what the attorneys general say is a long-standing conspiracy to prop up price of CDs.

The FTC has estimated that the potential harm to consumers as a result of the pricing agreements could reach $480 million. The states have not yet set a price tag on their suit, however.

My hope in human nature is strengthened. Supreme religious hierarchies' power was broken, thankyou luther. The monarchic systems were toppled, thankyou napoleon. The recoding industry's (RIAA) control monopoly of the fruits of creative artists is being challenged, thanyou premierly napster.

SS

Edited by - saintsatan on 12 October 2002 1:43:49

Jigrigger

Now, if they would just go after the oil companies...

Jrig

avengers

Now, if they would just go after the oil companies...

Now, if they would just go after the religious companies...

Edited by - avengers on 12 October 2002 3:57:10

Granny Linda

I'd really like to know, when isn't the consumer taking it in the shorts?

g.l.

stichione

This justifies my claim of many persons I know that they were in their right to make illegal copies of music CDs.

Satanus

stichione

Exactly. I especially like the part where the attornys general call the record companies' actions of propping up cd prices a conspiracy. That is music to my ears, in view of the political correctness mantra that labels anyone a fruitcake who yells conspiracy.

Avengers

It's on the way, at least for some of them.

Jig

Taking the oil companies down to size will be for the next generation or the one after that

SS

back2dafront

yeah, i don't buy cd's anymore because every store i go to they cost frikkin $19.00.

I remember when cd's cost HALF that much - not even 10 years ago. Crazy.

yeah, maybe America will soon realize that EVERY corporation is ripping people off, whether in this country or in other countries.

WAKE UP AMERICA - this country is only powerful by preying on others, including it's own people. That power is short-lived.

*makes a run for the Canadian border*

-jay

Satanus

Computer scientists working at microsoft have written a report that predicts that the riaa will be unable to stop private music file sharing. Read the news article on this report at

http://news.bbc.co.uk/1/hi/technology/2502399.stm

Also:

In late September five music companies and three music retailers were fined more than $143million after being found guilty of fixing CD prices too high.

I doubt those companies have learned their lesson.

Btw, kazaa is loaded w some serious spyware. Kazaalite is safer. After kazaa is uninstalled, spybot can remove almost all of the spyware.

SS

Record Companies Violating Antitrust Laws?

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