An attorney for Apple Inc. (NASDAQ: AAPL) defended the company's use of Eminem's songs on iTunes in court on Thursday, according to Associated Press.
Eight Mile Style LLC, Eminem's music publisher, and an affiliated company, Martin Affiliated LLC, say their contract with Aftermath Records, which controls the recordings, did not entitle it to strike a deal with Apple to sell 93 songs over iTunes.
Free Hot Penny Stocks, an online financial publication, provides investors timely stock market alerts. Free hot penny stocks profiles stock picks that could generate higher returns than average. These penny stocks include stocks with news, chart breakouts or increased volume.
Sign Up Today for our Penny Stock Newsletter
Apple pays Aftermath 70 cents for each iTunes download, and Eight Mile gets 9.1 cents of that share as the music publisher, he said.
Despite the legal dispute, Eight Mile cashed royalty checks and hasn't asked Apple to stop selling Eminem's songs, Pomerantz said.
Eight Mile's lawyers claim Apple has wrongfully gained $2.5 million through iTunes downloads, including $466,915 from Eminem's biggest hit, "Lose Yourself." They say Aftermath has collected $4 million off his songs on iTunes.
Eight Mile attorney Richard Busch said the publisher has a history of making legal distinctions between digital downloads and other ways to distribute Eminem's music. He referred to an agreement with Universal Music Group to offer "Lose Yourself" as a download before iTunes was created.
The first witness was Eight Mile manager Joel Martin, who said the publishing company can't protect itself financially without a download license with Apple.
Eminem, whose real name is Marshall Mathers, was not in court. He is not a plaintiff in the lawsuit and is not listed as a trial witness.
Sign Up for Free Hot Penny Stocks’ FREE Penny Stock Newsletter.
About Us
Free Hot Penny Stocks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies and other stocks that may be positioned to break out. These penny stocks might have news, increased volume or chart breakouts. These penny stocks that are alerted could generate greater than average returns. Feel free to visit our penny stock forum to discuss other penny stock picks or penny stocks that you might own.
Free Hot Penny Stocks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer