“It could truly be said that Hendrix’s entire future was affected by this lawsuit and Warner Bros.’ settlement with Ed Chalpin” (Henderson, p. 227). During the 1968 U.S. tour, Hendrix had proved to be a major draw and his albums were selling better than Frank Sinatra or Dean Martin’s ever did. Warner Bros. president Mo Ostin discovered, while at lunch in New York with Chas Chandler, that Hendrix’s legal situation was more complicated than he knew, and that Hendrix was not signed directly to Warner but to Yameta. As soon as Warner’s team of fourteen lawyers realized this, there was a near immediate settlement with Chalpin.
The present contract records that agreement bringing to a close the legal action brought by PPX against Hendrix, and that between Yameta and Capitol Records. PPX assigned to Warner all of its rights as originally held by the infamous 1965 contract Jimi had signed, but agreeing to pay PPX a fee and royalties until 1972, and stipulating that an album of new material be produced with the proceeds going to PPX (to be the "Band of Gypsys" album).
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