The Los Angeles Times reported Sunday that the Dixie Chicks will get an estimated $20 million signing bonus and their own label, Open Wide Records, in the resolution of their dispute with the Sony Corporation.
The Chicks will release a new CD, Home, Aug. 27 on Open Wide Records, to be promoted and distributed by Sony.
The Chicks filed suit against Sony last year claiming breach of contract. In February they were part of the Recording Artists Coalition concerts in Los Angeles in support of reform in the music business.
The Times also reports that the Chicks will reimburse Sony for about $15 million from record sales before the group begins collecting royalties. Their managers and lawyers will receive $3 million, or 15% of the $20 million bonus.
“We are very proud of the music on Home,” the Dixie Chicks said in a statement released Monday (June 17) by Sony. “We recorded it as a labor of love during our time off and are thrilled it has come together as an album that we think is our best yet. We are equally excited to get the music out to our fans. Our reconciliation with Sony Music couldn’t have come at a better time.”