CD settlement should net registrants $12.60

PORTLAND – Music buyers who applied for a share of a price-fixing settlement involving major U.S. record distributors and retailers will receive about $12.60 apiece if a judge signs off on the deal.

Roughly 3.5 million U.S. residents who purchased music between 1995 and 2000 registered for claims by last Wednesday’s deadline, said Maine Assistant Attorney General John Brautigam.

Claimants will split $44 million allocated for individual claims if the class-action settlement is approved by U.S. District Judge D. Brock Hornby on May 2.

The lawsuit, signed by the attorneys general of 40 states and consolidated in Portland, accuses major record labels and large music retailers facing competition from discount retailers such as Target and Wal-Mart of conspiring to set minimum music prices.

The defendants – Sony Music Entertainment, EMI Music Distribution, Warner-Elektra-Atlantic Corp., Universal Music Group and Bertelsmann Music Group, as well as retailers Tower Records, Musicland Stores and Trans World Entertainment – have denied any wrongdoing.