WOW!!! Back then that was SERIOUS cash.
Alpert and A&M Records partner Jerry Moss both agreed in 1987, to sell A&M to PolyGram Records for a reported $500 million. Both would continue to manage the label until 1993, when they left because of frustrations with PolyGram's constant pressure to force the label to fit into its corporate culture. In 1998, Alpert and Moss sued PolyGram for breach of the integrity clause, eventually settling for an additional $200 million payment.[18]700MIL in 1987 dollars is roughly 1,514,893,220 in todays dollars according to a website that calculates that type of thing. Here is a link:
Inflation Calculator
