On November 4th, 1985, an auction to sell CTI’s master tapes was scheduled. CBS Records initially forced the sale to recover a debt but opted to reissue the recordings on CDs instead, generating significant revenue. Subsequently, Creed Taylor, Inc. filed lawsuits alleging CBS sabotaged them, but these claims were rejected. Today, Sony owns most CTI masters after acquiring CBS Records. The story of how that went down…
On This Day: Lien Sale
Manhattan it wasn’t, but if you were a “bridges and tunnels” commuter who didn’t drive, Newsday was your go-to read. In the days before smartphones, before MP3 players, podcasts, and web pages, you’d board the MTA bus or train, claim your seat if you were lucky, and either put on a CD, and FM radio, get out a paperback. The […]
CTI Enters Chapter XI Bankruptcy
“I’d rather laugh with the sinners, Than cry with the saints; The sinners are much more fun, You know that only the good die young” Billy Joel, Only The Good Die Young, 1978. On Saturday December 9th, 1978, Creed Taylor Inc. was listed in the New York Times financial section as applying for Chapter-11 bankruptcy protection. There, right above the […]