The Sound Recording Special Payments Fund Announces a Special Distribution based on a $7,785,000 Settlement with Major Record Companies
From the Sound Recording Special Payments Fund website:
The Fund will make a special distribution on May 15, 2013, based on a settlement with certain major record companies of all audit claims through 2011. Under the terms of the settlement, the amount is required to be treated as if it had been received by the Fund in 10 equal amounts over the years 2002 – 2011, and is payable to musicians whom were eligible for a payment for those distribution years.
See the website for the full story and a letter from Fund Administrator V. Robert DiPaola:
Sound Recording Special Payments Fund Announces Payments