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Jay Chou to walk out, old company emptied, KTV facing crisis
by kelvin@multistars - 8th March 2007Jay Chou will regain his freedom on the 1st of March, he will take with him a market value of 5 hundred million yuan, the property of 7 albums, not only is his old company Alfa Music being emptied, if the parent company Cashbox and Holiday continue to play Jay Chou's KTVs, they may be violating rights, if they get sued, not only will people not be able to sing Jay Chou's songs at Cashbox and Holiday but the company might face a maximum 3 year sentence combined with 150,000 yuan fine.
In 1999 Jay Chou signed a 7 year contract with Jacky Wu and became an artist of Alfa Music, in 2001 he was sold to Holiday for 3 hundred million yuan; two years later Cashbox and Holiday merged, after another year Fubon also invested.
Jay Chou's parent family is becoming bigger and bigger, but his treatment has not changed for the better because of this. According to reports, Alfa Music took out the contract from 8 years ago and wants him to renew it, Jay Chou was very shocked, even mother Chou felt the old company were bullying her son, there was no way they could agree to such an unreasonable contract.
According to reports, Jay Chou has decided not to renew his contract, the one losing out the most is his parent company, Cashbox and Holiday KTV, the benefits loss is over 5 hundred million yuan.
A certain International record company revealed, at the moment Jay Chou's record contract has already gone up to 2 hundred million yuan, breaking records in Taiwan pop history. The biggest attraction is that from March 1st, Jay Chou will take back the rights to the "music work" and "visual work" of the 7 albums including "Fantasy", "The Eight Dimensions", "Common Jasmin Orange", it is basically like Alfa Music is being emptied!
Once Jay Chou takes them back, Alfa Music will have no right to release a best collection for Jay Chou, this will prevent a head on head between a best collection album and Jay Chou's new album after he leaves. According to leaks, you can still request Jay Chou's KTVs at Cashbox and Holiday, but they do not have authorization from Jay Chou so they may be already violating rights.
8 years ago, when Jay Chou signed a 7 year contract with Jacky Wu, father Chou insisted on signing a "safeguard clause". The clause states that the rights to all Jay Chou's musical work (lyrics, compositions), recorded work (recorded songs), visual work (music videos), even if the company paid for the recording or filming, belong to Jay Chou, in the contract period, Alfa Music will be acting owner, after the contract ends Jay Chou will take it back.
This clause can protect Jay Chou after he jumps ship to another company, his work still belongs to him, he doesn't need to spent extra to buy them back.
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