Apple Corps settles royalties lawsuit with EMI

The Beatles' Apple Corps company and record label EMI have settled a royalties dispute, the Fab Four's company said Thursday.

"It was settled on mutually acceptable terms last month," Apple Corps said in a statement. It gave no details of the settlement.

EMI's corporate spokeswoman could not immediately be reached for comment.

Apple Corps Ltd. launched legal action against EMI Group PLC in 2005 to recover what the band said was more than 30 million pounds (US$60 million, EUR45 million) in unpaid royalties. EMI releases Beatles recordings under the Apple label.

Founded in 1968 and still owned by Paul McCartney, Ringo Starr and the widows of John Lennon and George Harrison, Apple Corps is a zealous guardian of The Beatles' interests. In February it settled a long-running trademark dispute with computer company Apple Inc. over the distinctive apple logo and name.

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Author`s name Angela Antonova