Pink Floyd Come Out from the Dark Side of the Moon in Royalties Dispute

Pink Floyd have taken the crown in their recent royalty dispute with record company EMI.

Background:

Between 1967 and 1992, the parties had entered into various agreements relating to overseas and UK sales of five named albums. All of these agreements were terminated and replaced by a "Master Licence Agreement (MLA)" in 1999 in which Pink Floyd granted to EMI the right to exploit their albums in return for an agreed percentage of EMI's sales receipts. By 2005, four further albums were subject to the same MLA.

In 2007, Pink Floyd appointed Prager & Fenton to carry out an audit of the royalty statements provided to them by EMI. The audit report alleged that EMI had...