Polar Music Prize
In 1989, Anderson made a substantial financial donation to found the Polar Music Prize from money he made when he sold the multi-million dollar record company Polar Records. In this deal nearly all utilisation and license rights, and the registered ABBA trademark, were sold for an unknown sum of money to PolyGram shortly before the ABBA members took him to court over royalty back payments. Previously, Anderson had licenced ABBA and the members' solo releases to various labels worldwide as a way to earn more royalties. In 1998, PolyGram was in turn sold to Seagram and merged into what is now one of the Big Four record labels, the Universal Music Group, the company that today holds the rights to the entire ABBA back catalogue.
Read more about this topic: Stig Anderson
Famous quotes containing the words polar, music and/or prize:
“In time your relatives will come to accept the idea that a career is as important to you as your family. Of course, in time the polar ice cap will melt.”
—Barbara Dale (b. 1940)
“I used to be angry all the time and I’d sit there weaving my anger. Now I’m not angry. I sit there hearing the sounds outside, the sounds in the room, the sounds of the treadles and heddles—a music of my own making.”
—Bhakti Ziek (b. c. 1946)
“He saw, he wish’d, and to the prize aspir’d.
Resolv’d to win, he meditates the way,
By force to ravish, or by fraud betray;
For when success a lover’s toil attends,
Few ask, if fraud or force attain’d his ends.”
—Alexander Pope (1688–1744)