TVB & Big Four to mend relationship

It was reported that the dispute between TVB and the Hong Kong Recording Industry Alliance (HKRIA) may finally be concluded soon.

Jayne Stars reported that in January, the HKRIA – an alliance formed by the big four recording companies; EMI Group, Sony Music, Universal Music and Warner Music Group, agreed to look into a "basket contract" offered by TVB general manager Lee Po On.

In the "basket contract" contract, TVB agreed to allow all singers from the big four to appear and promote on their station and agrees to offer a six-figure sum in royalty payments to the recording companies mentioned. The contract will be based on a per-year basis, in which renewal of contract will be offered each year.

It was further revealed that TVB is close to achieving a mutual agreement, waiting only for Universal Music's decision. However, the latter has submitted the contract to its headquarters in the United States for approvals.

In 2009, the relationship became severed when TVB was upset by HKRIA's request to increase its royalty tax to TVB. TVB sent out an order to ban all singers that belonged to the four companies from appearing on the station, including those that were already holding TVB music shows at the time.

Source: Yahoo! Entertainment