15 Music Distributors Fined for Collectively Rigging Sale Prices.

Fined.. $19.9 MILLION DOLLARS.

The Fair Trade Commission has decided to fine 15 music companies for $19.9 million USD for collectively rigging the prices of their products and services. This fine will go hand-in-hand with a court order and prosecution. On February 28th, the FTC declared, “Through a meeting held from February 23rd through the 25th, we have decided to take appropriate action against the following 15 online music-related companies: SK Telecom, Loen Entertainment, KT, KT Music, Mnet Media, Neowiz Bugs, Sony Music Entertainment Korea, Universal Music, Warner Music Korea, Yejun Media, Pony Canyon Korea, SM Entertainment, SBS Contents Hub, King Pin Entertainment, Direct Media.”