“Let It Be” album and film are officially announced

A NEW BEATLES’ FILM …….. A NEW BEATLES’ ALBUM …….. THE FACT ……..

MAY 20 ….. this is the date set for the simultaneous British premiere, in London and Liverpool, of the new APPLE film “LET IT BE” starring the BEATLES.

Under the distribution agreement with UNITED ARTISTS the full-length colour feature film, will open in New York on MAY 13 and premiere in 100 major cities throughout the world.

LET IT BE, “a bioscopic experience” with the BEATLES, will also have saturation booking exposure across the United States.

…….. and now to the new BEATLES’ album!

This is a new phase-Beatles’ album ….. essential to the context of the film was that they performed live for many of the tracks; in comes the warmth, the freshness of live performance; as reproduced for disc by Phil Spector.

Global release date?

Friday MAY 8 …. on Apple, through E.M.I. distribution, for the World – excluding the United States …. and on Apple, through United Artists’ distribution in America.

…….. and finally, the facts!

In response to various Press and other media stories concerning the status of the Beatles, the following statement is issued by Apple Corps. Ltd.

“Apple Corps Ltd. is a majority partner in the Beatles and Co Partnership consisting of the individual Beatles and Apple Corps Ltd. Under the Partnership Agreement entered into on 19th April 1967, which is for a period of ten years, the Partnership, except as to the areas of cinematograph, film and songwriting and composing (which were the subjects of other Agreements) is entitled to the services of the Beatles as a Group of performers under the name “The Beatles” throughout the world in respect of all branches of the entertainment industry, and that any individual Beatle cannot offer his services, appear alone, or with any other person in any branch of the entertainment industry as to which the Partnership has such rights, without consent of Apple Corps Ltd. and the other Beatles.
It is re-iterated that no person, firm or corporation can act or negotiate for the Beatles or for the Apple group of Companies other than ABKCO Industries Inc, 1700 Broadway, New York City.”

Apple press release – From “Let It Be” boxset (2021)

Apple Statement Sheds Light On Relationship Of Beatles

NEW YORK — Three major announcements about the future of the Beatles were made by Apple Corps Ltd., last week. One concerned their next LP as a group. A second covered their up-coming film and the third shed light on the status of the Beatles as a group and how they are contractually related to one another.

On the subject of the LP: The next Beatles album will be titled “Let It Be,” the title of their film and will retail for $6.98. In America Apple will release the record through United Artists’ distribution chain while elsewhere in the world the Apple Record will clear through EMI distribution.

The U.S. record will feature a red Apple label as compared to the regular green logo seen on product distributed through Capitol Records distribution. Capitol will be doing the pressing. Phil Spector is credited by the Beatles for having “reproduced” the “Let It Be” LP. Titles and other comments about the LP appear at the conclusion of this story.

The film, the “Let It Be” Apple movie in which all of the songs on the LP are featured, premieres in the U.S. in mid-May (cities to be announced) and will premiere in London and Liverpool on May 20. Under the distribution agreement with UA films, the full length color feature will open in 100 major cities through the world, including saturation booking exposure across the U.S.

But what is the state of the Beatles relationship today? Although there doesn’t seem to be any present or near future plan that will see the foursome record together, it is highly unlikely that the boys will split and form companies of their own. Artistically they can record alone, but financially they are very much bound to one-another and all monies derived from any of their entertainment ventures of the future must go into Apple Records in America and Apple Corps in England. And although any of the boys may choose to record alone, the permission to have such a record issued on the market must be given to the soloist by Apple Records.

Apple Directors Statement

This was evident from the statement issued to the press last week by Apple Corps Ltd. (on stationery which lists J. O. Lennon and G. Harrison as the firm’s directors — the note was signed by Ringo Starr) which advised the following:

“Apple Corps Ltd. is a majority partner in the Beatles and Co. Partnership consisting of the individual Beatles and Apple Corps Ltd. Under the Partnership Agreement entered into on 9th April 1967, which is for a period of ten years, each partner (except as to the areas of cinematography, film and songwriting and composing (which were the subjects of other agreements) is entitled to the services of the Beatles as a Group of performers under the name ‘The Beatles’ throughout the world in the same manner as any other entertainment industry, and that any individual Beatle cannot offer his services, appear alone, or with any other person in any branch of the entertainment industry as to which the Partnership — has such rights, without consent of Apple Corps Ltd. and the other Beatles. It is re-iterated that no person, firm or corporation can act or negotiate for the Beatles or for the Apple group of Companies other than ABKCO Industries, 1700 Broadway, New York.”

The Beatles tied themselves together in this manner in April of 1967 when they sold 80% of the Beatles & Co. (which represents the Beatles) to Apple Corps Ltd. (each of the Beatles owns 5% personally of the remaining 20%) in what is described as an “arms-length capital transaction” permitted in England for capital gains benefit to the performers. For the 80% the Beatles received 800,000 pounds. However, it is feared that the British Tax office would disallow the capital gains aspect of the agreement if there were to be a dilution of the assets of Apple Corps. Such a dilution would be caused if any one of the four Beatles were to bow out of the partnership and form another company using his talents. Therefore, it is expected that the capital gains aspect of the Beatles–Apple Corps agreement will keep the boys together financially.

Cash Box also has learned that the Beatles contract calls for none of them to enter a business that is in competition with the partnership in any way.

In an article published last week we reported that ABKCO Industries represented three of the Beatles. However the Apple release appears to advise that ABKCO manages Beatles & Co. which represents all of the Beatles.

McCartney Co.

We also stated in an earlier article that the “McCartney” LP represented the first key venture of McCartney Productions, solely-owned by McCartney. However, this same Apple press release seems to point up that no Beatle can form a “solely-owned” company “in any branch of the entertainment industry…without consent of Apple Corps Ltd. and the other Beatles.”

The new “Let It Be” album features 12 songs. Eight of them were written by the Lennon–McCartney team. Two were written by George Harrison alone, “I Me Mine” and “For You Blue.” “Dig It,” a 51 second cut, was written by all four Beatles and is the first Beatles song featuring a split copyright. Songs is published by Maclen, Harrisongs and Startling Music. “Maggie Mae,” the last selection on side one is a public domain song.

The eight Lennon–McCartney songs include “Let It Be” and “Get Back” as well as six new pieces: “Two Of Us,” “I Dig A Pony,” “Across The Universe,” “I’ve Got A Feeling,” “One After 909,” and “The Long And Winding Road,” which features McCartney in the lead and which will probably be the group’s next single.

[Ed. Note: This reporter had an opportunity to listen to the track originally taken from the “Let It Be” film and the finished LP which veteran producer Phil Spector re-mixed and augmented. The LP jacket will feature an unusual line of credit for Phil Spector for having “reproduced” the album.]

From Cashbox Magazine, May 2, 1970