So this is fun. Sony Music is suing three former executives of defunct streaming service Rdio for being damn sneaky. Well, the lawsuit alleges misrepresentations, false statements and concealment of the digital firm's impending bankruptcy. But it's really all about management at the failing streaming company being all kinds of sneaky. Allegedly, obviously.
The major label is suing former Rdio chief Anthony Bay and the dead company's general counsel Elliott Peters and top licensing dude Jim Rondinelli over allegations they misled Sony while negotiating the renewal of their licensing deal. Those renegotiations included the tricky task – for Rdio – of putting off paying the $5.5 million the streaming business owed Sony in unpaid minimum guarantees.
Posted on: 07/04/2016Categories: News from CMU Online
