It's all over now

The Glimmer Twins react to news that
Allen Klein, accountant, died 4 July 2009

His first client was the soul music star Sam Cooke, who was unable to get royalty payments from his record company, RCA. Klein succeeded in releasing the monies owed to Cooke and soon established a corporation to own the rights to Cooke's future recordings.

By the mid-1960s, he had set up ABKCO (Allen and Betty Klein Company), as a holding company for the recordings and songs he controlled.
In 1965, The Rolling Stones manager Andrew Loog-Oldham suddenly sold the group to Klein, without consulting them, and Klein then renegotiated the group's contract with Decca Records in London.
He persuaded the company to part with $1,250,000 in advance royalties, arranging for the money to be paid to one of his own companies, through which he later bought the rights to many of the Stones' early recordings.

"The Rolling Stones suffered perhaps the greatest loss from their involvement with Klein. Through their dealings with him, the band lost all control over the copyrights to both their recordings and publishing produced between 1962 and 1971 -- including some of their most popular material, such as the songs Satisfaction and Jumping Jack Flash. Despite a lawsuit brought against Allen Klein by the Stones, this condition
that includes recordings from this time period."
In 1991 it reissued a collection of recordings produced by Klein's friend Phil Spector - it was through Klein that Spector produced the Beatles' 1970 album Let It Be.

ABKCO retains the rights to numerous 1960s recordings and to more than 2,000 songs, by Mick Jagger and Keith Richards, Sam Cooke, Ray Davies and others. Read this blunt assessment of Mr Evil by The Daily Mail, bless 'em. Klein -

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OpenID adrienswords said...

Isn't that weirdest thing? Alan Klein. I didn't know about Sam Cooke and Ray Davies but I knew about the Beatles and the Stones. How the hell do you get away with that?

I guess they had no idea. Good for McCartney he listened to Jagger 'ey?

Cool blog man unt zanks fer ze ploog.

March 14, 2011  

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