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How Much Will Losing "Happy Birthday" Copyright Cost Warner Music?

image from toobbox.comWarner Music has owned what it believed to be a copyright for the iconic song "Happy Birthday" since 1988. But last week, a federal judge declared their copyright entirely invalid.  How much will the ruling cost Warner Music?

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"Happy Birthday" earned Warner Music Group an estimated $2 million a year, say analysts.  The loss of $2 million each year does not counting the wave of claims to refunds and damages that is likely to follow the ruling.