ABBA, Polar Partner settle: Drop underpayment royalty suit. By David Rowley
The lawsuit filed by ABBA against Swedish impresario Stig Anderson alleging
underpayment of royalties has been dropped following an out-of-court settlement.
The group, which in its
in the 1970s, outstripped Volvo as Swedenís
greatest generator of foreign income, were claiming 27 million Swedish Kroner
plus interest (around $US7 million). Neither side has been prepared to release
ABBAís original contract with Polar Records, which they co-owned with
Anderson, was for 3.5 points outside
Sweden, increasing to 11 points in 1981; this total
included a producerís royalty inside
and six points outside the country. But, the group members claimed that as part
of a verbal agreement with Anderson,
they should have received nine points from January 1st, 1983, on all records.
interpretation was that the nine points would be paid only on future recordings
by the group, which had broken up by this point.
ABBA burst onto the world stage after winning the 1974 Eurovision Song Contest
with the track
going on to sell 240 million units worldwide.Transcribed for ABBA World
∑ 17 August 1991 (Page 65)
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