CD price fixing
Between 1995 and 2000 music companies were found to have used illegal marketing agreements such as minimum advertised pricing to artificially inflate prices of compact discs in order to end price wars by discounters such as Best Buy and Target in the early 1990s. It is estimated customers were overcharged by nearly $500 million and up to $5 per album.[1]
In August 2000, the
Trans World Entertainment and Tower Records. In restitution, for price fixing they agreed to pay a $67.4 million fine and distribute $75.7 million in CDs to public and non-profit groups but admitted no wrongdoing.[3]
See also
References
- ^ Stephen Labaton (2000-05-11). "5 Music Companies Settle Federal Case On CD Price-Fixing". The New York Times. Retrieved 2016-04-26.
- ^ "CD Price Fixing Suit Settled For $143 Million". Billboard. 2002-10-01. Retrieved 2016-04-26.
- ^ David Lieberman (2002-09-30). "States settle CD price-fixing case". USA Today. Retrieved 2016-04-26.