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Company:
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MILLS MUSIC TRUST (MMTRS)
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Form Type:
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10-Q
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Filing Date:
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5/14/2009
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CIK:
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0000066496
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Address:
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C/O JOEL FADEN & COMPANY
1775 BROADWAY SUITE 708
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City, State, Zip:
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NEW YORK, New York 10019
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Telephone:
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(212) 246-7203
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Fiscal Year:
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12/31
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Last Trade
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Last Trade:
$29.50
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Change:
0.00 (0.00%)
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Trade Time:
Oct 09
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Market Cap:
$8.20M
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Description of Business
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Mills Music Trust (the "Trust") was created, by a Declaration of Trust
dated December 3, 1964, for the purpose of acquiring, from Mills Music, Inc.
("Old Mills"), the rights to receive payment of a deferred contingent purchase
price obligation payable to Old Mills. The purchase price obligation arose as
the result of the sale by Old Mills of its musical copyright catalogue to a
newly formed company ("New Mills") pursuant to an Asset Purchase Agreement.
In payment for the aforementioned catalogue, New Mills agreed in the Asset
Purchase Agreement to make quarterly payments to Old Mills (the "Contingent
Portion") measured by the royalty income generated from the catalogue and,
subject to certain limitations and conditions, from any copyrights thereafter
acquired by New Mills.
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