UniversalMusicGroup fire class action could come down to one thing: Who owns the masters?
) -- seeks half of UMG's proceeds from a legal settlement and a reported insurance payment relating to the fire, plus half of whatever value they didn't cover. The case will come down to "good old American property rights," says an attorney who works for several legacy acts and estates that aren't part of the lawsuit. "As in, who owns the property?"
The plaintiffs assert that UMG breached its responsibility to protect the tapes lost -- which held as many as 500,000 songs, according to an investigation in The New York Times Magazine, although a UMG archivist said the damage was "overstated." But most recording contracts don't explicitly mention that responsibility, and there's a legal distinction between the physical recordings and the intellectual property they contain.
There could be other legal arguments -- including claims on lost earnings for material that no longer exists in high-definition form. These could be valid claims, says the attorney, but they are "arguments for which there is no precedent that I'm aware."
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