(CelebrityAccess MediaWire) — The agreement between American Idol creator Simon Fuller and Sony BMG has expired, officially opening to the doors to the rights to albums released by stars of the show.
Universal Music Group and Sony BMG have both submitted multi-year agreement offers to Fuller’s management company, 19 Entertainment, to release upcoming albums, singles and DVD’s from the show. Despite recently selling the company to Robert F.X. Sillerman’s CKX, Inc., Fuller is still involved in the negotiations, according to the Sunday Times.
A spokesman for 19 Entertainment told the paper that Idol generates more than $40 million in retail per year, and has already had platinum albums by Kelly Clarkson, Ruben Studdard, Fantasia and Clay Aiken.
The other two major record companies, EMI Music and Warner Music Group, have not submitted offers. –by CelebrityAccess Staff Writers