I have a friend that has dealt with record labels like Universal & WEA (more specifically Rhino), and a few indie labels that like to buy up 60's & 70's indie labels cause of producers who sample one hit wonders who put out 45rpms/7" singles.

Anyway, he told me what these labels do when they buy up old defunct labels is get lawyers to set up accounts to all artists, writers, musicians, & producers that had got credit in all songs in the label's catalog, keep paperwork on royalties that would go to each person but, (here's the big but) but they (the label or their lawyers) don't have any obligation to notify, mail, get in contact with, or legally have to find these people to let them know that their music has been purchased by said label and if the label reissues or license the music that the artist will have money coming their way from royalties; it is up to the artist not the label to keep track of these artist's own publishing & ownership trail.

The labels are hoping you never figure it out or have the funds to hire a music lawyer to do this for you, or even a manager, they hope you just die off, and they (the labels) get to legally keep your money when time runs out (which is usually 70 to 100 years after), labels love playing the long term game.

See they know most of those musicians from the 30's to the 70's are either dead or don't have the funds to hire lawyers to get a hold of what might be money waiting on them while some artists or surviving family members probably figure it's not even worth the trouble for a few dollars they would receive after paying a lawyer to track down who owns what, who gets what percentage of royalties to a song/songs, and etc., that's why labels love buying up the smaller labels cause of bad paperwork & shotty dealings from the original owners and managers from these fly by night labels who was only out to make a hit then but wasn't caring about 20 to 50 years down the road.

https://tinyurl.com/y4ba6hog

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"We in here talking about later career Prince records
& your fool ass is cruising around in a time machine
trying to collect props for a couple of sociopathic degenerates" - s.blak