In the early 1990s Gudinski sold 49 % of Mushroom to News Ltd , who had owned Australia 's largest record label , Festival Records since 1961 . At the APRA Music Awards of 1998 he won the Ted Albert Award for Outstanding Services to Australian Music . He controversially sold his remaining 51 % share to News in 1999 for a reported A$ 60 million , claiming that the sale was a protest against the changes to Australia 's parallel record importation regulations , a stance many saw as disingenuous and hypocritical
APRA Music Awards of 1998
APRA Music Awards of 1998
Michael Gudinski