October 23, 2001
BMI and Turner Broadcasting System, Inc. Reach Final Licensing Fee Agreement
NEW YORK, October 23, 2001 – BMI today announced that the performing rights organization has entered into a long term licensing agreement with Turner Broadcasting System covering the music performance rights fees for all Turner’s cable networks, including TBS, TNT, CNN and the Cartoon Network, among others.
The comprehensive final license agreement covers a settlement of all past periods. The agreement also establishes fees for those services through 2004. It reflects a significant increase to the interim fees previously paid by Turner.
In announcing the agreement, Senior Vice President, Licensing, John Shaker said: “We are pleased that we have been able to come to a final resolution with Turner Broadcasting System. This gives BMI songwriters and publishers the guarantee of a stable source of income from the performances of their works on Turner’s cable networks and recognizes the value of music on cable television.”
Founded in 1940, BMI is a performing rights organization that represents approximately 300,000 songwriters, composers and publishers from around the world and in all genres of music. The company collects license fees for the performances of the approximately 4.5 million musical works in its repertoire and distributes those monies as royalties to the copyright owners it represents.
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Contact: Pat Baird