Hit Parade: Le Petty Prince Edition
Hit Parade | Music History and Music Trivia
00:00
The Last Straw for Tom Petty and the Heartbreakers
Tom Petty's greatest concern wasn't musical crossover or even the charts, it was his record deal. In 1979, he declared bankruptcy to get out from under his contract on the novel premise that his band's low royalty rate would never allow them to pay back MCA Records. After months of legal maneuvering, MCA succumbed, signing Petty and the Heartbreakers to a better deal with a higher royalty rate.
Transcript
Play full episode
