Word: megastars
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Dates: during 1975-1975
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...time when much of the recording industry is feeling the nation's economic squeeze-a few companies report sales down as much as 30%-Motown Record Corp., the black pop-music giant, has given Megastar Stevie Wonder, 25, a new contract for a guaranteed minimum of $13 million. If the singer-songwriter delivers more than the single annual LP required by the seven-year agreement, he can earn up to $24 million. The largest parcel handed out yet by a record company, Wonder's contract is worth as much as the Elton John ($8 million) and Neil Diamond...