| |
| | Sanctuary Records Group Sued for More Than $50,000,000 by 5.1 Label Group for Breach of Contract and Fraud (Site not responding. Last check: 2007-10-19) |
 | | Sanctuary is also engaged in the business of artist management, representing such acts as Sir Elton John and Beyonce. |
 | | The agreement, as amended, contained a guarantee by 5.1 to Sanctuary of a minimum of $6,150,000 and required that Sanctuary make available to 5.1 all titles in Sanctuary's catalog as of September 29, 2003, the effective date of the amendment, and all titles added to Sanctuary's catalog thereafter, at the rate of five per month. |
 | | During the negotiations leading up to the amendment of the agreement between Sanctuary and 5.1, Sanctuary made it clear that the amendment with the $6,150,000 guarantee had to be dated "as of" a September date to get within its then current fiscal year ending on September 30, 2003. |
| www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/11-18-2005/0004219343&EDATE= (340 words) |
|