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Mills Music Trust reported a settlement with EMI Mills Music Inc. and EMI Consortium Music Publishing Inc. that resolves all claims through December 31, 2024 related to contingent purchase price payments under a 1964 asset purchase agreement. EMI will pay the Trust $500,000 within ten business days of October 30, 2025 in full and final settlement of those past claims.
The parties also amended payment calculations beginning with the quarterly period starting July 1, 2025. EMI will cap the foreign sub‑publishing fee between EMI and any foreign affiliate at 25% when computing amounts due to the Trust, limiting certain deductions. In addition, EMI may offset U.S. copyright renewal costs only against U.S. royalty income for the specific song, and not against foreign royalty income, narrowing permissible offsets.
Mills Music Trust filed an 8-K noting it issued a report to Unit Holders with computation details for the payment attributable to the second quarter of 2025. The report is furnished as Exhibit 99.1 and is dated September 29, 2025.
The filing is an administrative update related to the Trust’s quarterly distribution; any specific payment figures are presented in the exhibit.
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