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637802 Posts in 25493 Topics by 3625 Members - Latest Member: spgass September 21, 2018, 09:20:22 AM
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Author Topic: What would have been a fair price for Sea of Tunes?  (Read 900 times)
ReggieDunbar
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« on: September 01, 2018, 02:04:22 AM »

Shareholders of Apple stocks in 2007 might have made a fortune by selling but missed out on a bigger. That doesn't mean they were scammed.

One of the details in the history of The Beach Boys is when Murry sold the publishing rights (Sea of tunes) to Irving Almo Music.
The story we've all learned through the years is that it was sold for a fraction of its worth. (I also know they might not wanted to sell at all but Murry did it anyway)

- it was sold in 1969 for 700.000$ (which is almost 5 milion$ translated to todays worth)
- in 1994 it was estimated to be worth 40 milion $ (equiv 66 milion $ today)

If we jump to 1969, when no one had the abilities to look into the future. (Reissues, oldies-stations on radio, american graffiti)

What would have been concidered a correct price tag?
Just like stocks, selling the catalog in 1969 was a bad idea. (Really really bad)

- What would have been a fair price, how much were they scammed of? (just counting as of 1969)




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The pine-scented air smells so good in the snow, in our toboggan well go
screaming down the mountainside. The touch of your cheeks when theyre rosy and cold, feels so cozy to hold. Just to take you close and make you warm and...
Pretty Funky
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« Reply #1 on: September 02, 2018, 03:53:21 PM »

Did Murry actually shop it around or was that 700k the only offer? If it was the highest bid then technically that is Ďall it was worthí at the time. As you say, who knew about the long turn prospects back then? The L&M movie showed Brian being upset about the value. Was that just movie making license or did he truely sense what the future prospects were. Who knows?
I guess the music business is full of these decisions that seem stupid in hindsight. The guy that turned down the Beatles always springs to mind. Artists locked into contracts that paid ok then they went big time, like the Stones. Artists paid a fortune then didnít deliver. REM signed a reported $80m deal then there next album sold poorly.

Itís a Business with a capital B.
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Needleinthehay
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« Reply #2 on: September 02, 2018, 05:44:15 PM »

My thoughts on it (and no proof, but just my guess) is that Brian's upset with the sale of the songs had nothing to do with him somehow knowing they would be worth many times more someday, I would think he was more upset that his "babies" so to speak were sold. He put his blood, sweat and tears into them and then had them taken away. Granted he was still listed as the songwriter and stuff, but he no longer had as much control over the songs.
Also, the fact that Murry got all $700k of it and didnt even give Brian $1 from what I've heard also probably pissed him off.
I know that both of those factors would anger me if I was in his position...
« Last Edit: September 02, 2018, 05:49:07 PM by Needleinthehay » Logged
Amy B.
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« Reply #3 on: September 04, 2018, 05:20:24 AM »

My thoughts on it (and no proof, but just my guess) is that Brian's upset with the sale of the songs had nothing to do with him somehow knowing they would be worth many times more someday, I would think he was more upset that his "babies" so to speak were sold. He put his blood, sweat and tears into them and then had them taken away. Granted he was still listed as the songwriter and stuff, but he no longer had as much control over the songs.
Also, the fact that Murry got all $700k of it and didnt even give Brian $1 from what I've heard also probably pissed him off.
I know that both of those factors would anger me if I was in his position...

I agree. I think it was less about the money and more about the total disregard for what Brian would want for his own work.

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nach0king
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« Reply #4 on: September 04, 2018, 08:31:12 AM »

Shareholders of Apple stocks in 2007 might have made a fortune by selling but missed out on a bigger. That doesn't mean they were scammed.

One of the details in the history of The Beach Boys is when Murry sold the publishing rights (Sea of tunes) to Irving Almo Music.
The story we've all learned through the years is that it was sold for a fraction of its worth. (I also know they might not wanted to sell at all but Murry did it anyway)

You need to actually read the substance of Wilson's lawsuit - which was partially successful - before commenting further. Wilson's contention wasn't "well they made a bunch of money with it and I want some". It was that the sale itself was fraudulent due to misrepresentation from legal figures involved with the buyers, and such malfeasance as forged signatures:

http://articles.latimes.com/1989-09-19/entertainment/ca-4315_1_brian-wilson

This case was settled three years later for a pretty huge sum of money, suggesting that Brian's allegations had some truth to them and it wasn't just sour grapes over the value of the catalog.
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Magic Transistor Radio
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« Reply #5 on: September 06, 2018, 09:28:31 AM »

From Murray's perspective, he has to either take his retirement or risk being broke in 5 years. Same thing someone does with stocks. When the arrow is pointing down, you don't know if the stock will collapse or if it will bounce back up. I would also argue that Murray didn't necessarily lose on the deal. When he created Sea of Tunes, it was worth $0. So to come out of that with $700k is pretty good.  And whomever bought it in 1969 was also a big winner I assume. Unless they sold it a year later. Lol!
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"Over the years, I've been accused of not supporting our new music from this era (67-73) and just wanting to play our hits. That's complete b.s......I was also, as the front man, the one promoting these songs onstage and have the scars to show for it."
Mike Love autobiography (pg 242-243)
Lee Marshall
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« Reply #6 on: September 06, 2018, 11:49:58 AM »

$0.00 would be the price.  It should never have been put on offer let alone parted with. 

Ol' Murry was pissed about being sent packing with his tail tucked twixt his unstable legs.  He sold it without regard, respect, loyalty or love for his son.  He took what he figured would be enough money to make it work out... ... ...for his own bad self.  He had little or no recognition of the esteem for which this body of work was regarded.  He was a traitor.  Reggie Dunbar provided 3 meaningful sperm cells along his uneven path.  Outside of that he was situated exactly next to useless...'cept for buying some music related gizmos for the household.  Little doubt...as facts and history have shown...that he bought those items particularly for himself.  That Brian made far better use of them must have sat in his craw daily.  There was a LOT of revenge involved in this sale.

-----------

Forgot to comment on the obvious.  And that is?  Reggie Dunbar initiated this thread.  I loathe Reggie Dunbar.  [although not THIS modern version.]
« Last Edit: September 06, 2018, 11:58:22 AM by Lee Marshall » Logged

"Add Some...Music...To Your Day.  I do.  It's the only way to fly.  Well...what was I gonna put here?  An apple a day keeps the doctor away?  Hum me a few bars."   Lee Marshall [2014]

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hideyotsuburaya
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« Reply #7 on: September 06, 2018, 01:51:58 PM »

we've of course read that when news of Murry's impending SOT publishing sale got out at the time, the band tried to put the funds together to make a counter-offer to keep it in the family.  but it did not happen because either they fell $hort or technically too late to scuttle the Almo deal

Murry viewed the beach boys song catalog as a passing fad that'd lost its value.  the dismal performance of recent Breakaway no doubt convinced him of that.  but I wonder if he was enticed, because everyone in the business knew who he was and what he owned

I think he had become enormously disappointed and yes, something of an axe to grind with Brian.  I wonder if he had held on to the catalog instead, would he have been able to get along with the likes of Nick Grillo and especially Jack Reilly, who in a few years turned their fortunes around

had administering the publishing (admittedly large songlist) become too much of a daily chore that a person getting into his '60s was just not able.  I can only say for sure he acted like he had no confidence or appreciation in the lasting beauty of Brian'd composed
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