Posted on - May 28, 2003 [at] 12:25 pm by Brad
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Moody’s Investors Service says it may downgrade about $55 million of bonds backed by music royalties of rock icon David Bowie in light of the sales slump in the recording industry.
Interesting to see the effects of waning sales in this area of the music industry as well.
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Gray on Bowie Bonds
May 28, 2003 at 5:13 pm
The best part of it is because Bowie himself sold the future earnings as a bond, he kept all the control, but also got the money before the internet started to kick the legs out from under the whole process.
As far as I can see, he personally doesn’t lose a dime from having the bond downgraded, just the suckers who didn’t see mp3 coming.