RoyaltyShare to Take Over Sony Music's Royalty Processing
Date: Tuesday, July 12, 2011 @ 22:07:48 UTC

Sony Music Entertainment has called on RoyaltyShare to take over the processing and payment of artist and mechanical royalties, according to both companies. While Sony declined to comment on the move other than to acknowledge that it had occurred, sources said that RoyatyShare will hire 70 Sony employees involved in processing artist and mechanical royalties, who will remain in Sony's Lyndhurst, N.J., offices. As part of the deal, Sony will receive a small equity interest in RoyaltyShare, sources said. Complete Article

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