Monday, May. 10, 2004
Madge Gets Mad
By Sora Song
Looks like MADONNA'S stuck between rock music and a hard place. Warner Music (recently sold by TIME's parent Time Warner), her long-time record label, has sued her over Maverick Records, the boutique label they co-own. The partnership expires this year, and one side is supposed to buy out the other. Warner claims that Maverick--whose biggest success was Alanis Morissette's Jagged Little Pill in 1995--has lost more than $60 million since 1999 and demands Madonna repay $92.5 million before she buys the label. Madonna's side says Warner miscalculated Maverick's earnings and hasn't provided the label with legally required promotional support. "I find myself in the ludicrous position of being sued by my own record company, whom I have been loyal, industrious and reliable to for over 20 years," says Madonna, who is launching an international tour this month. "For them to behave this way is nothing short of treason."