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In page Stig Anderson:
"In 1989, Anderson made a substantial financial endowment to found the Polar Music Prize from money he made when he sold the multimillion-dollar record company Polar Records. In this deal nearly all utilisation and license rights, and the registered ABBA trademark, were sold for an unknown sum of money to PolyGram shortly before the ABBA members took him to court over royalty back payments. Previously, Anderson had licensed ABBA and the members' solo releases to labels internationally as a means to increase royalties. In 1998, PolyGram was in turn sold to Seagram and merged into what is now one of the Big Three record labels, the Universal Music Group, the company that holds the rights to the entire ABBA back catalogue.[citation needed]
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