OTC: MMTRS
MILLS MUSIC TRUSTCIK 0000066496 · Patent Owners & Lessors
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Mills Music Trust (the “Trust”) was created by a Declaration of Trust, dated December 3, 1964 (the “Declaration of Trust”), for the purpose of acquiring from Mills Music, Inc. (“Old Mills”) the right to receive payment of a deferred contingent purchase price obligation (the “Contingent Portion”)… About this business →
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About MILLS MUSIC TRUST
Source: Item 1 (Business) from the 10-K filed March 31, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS
Organization and Background
Mills Music Trust (the “Trust”) was created by a Declaration of Trust, dated December 3, 1964 (the “Declaration of Trust”), for the purpose of acquiring from Mills Music, Inc. (“Old Mills”) the right to receive payment of a deferred contingent purchase price obligation (the “Contingent Portion”) payable to Old Mills. The obligation to pay the Contingent Portion arose as the result of the sale by Old Mills of its music and lyric copyright catalogue (the “Catalogue”) to a newly formed company pursuant to an asset purchase agreement dated December 5, 1964 (the “Asset Purchase Agreement”). Pursuant to the Asset Purchase Agreement, payment of the Contingent Portion to the Trust continues until the end of the year in which the last copyright in the Catalogue expires and cannot be renewed.
The Contingent Portion amounts are currently payable by EMI Mills Music Inc. (“EMI”), the owner of the copyrighted materials contained in the Catalogue. The Trust has been advised that Sony/ATV Music Publishing LLC (“Sony/ATV”) is the administrator and manager of EMI and the Catalogue.
HSBC Bank, USA, N.A. is the Corporate Trustee of the Trust (the “Corporate Trustee”) and Lee Eastman is the Individual Trustee of the Trust (the “Individual Trustee” and together with the Corporate Trustee, the “Trustees”).
Proceeds from Contingent Portion Payments
The Trust receives quarterly payments of the Contingent Portion from EMI and distributes the amounts it receives to the registered owners of Trust certificates (the “Unit Holders”) representing interests in the Trust (the “Trust Units”), after payment of, or withholdings in connection with, expenses and liabilities of the Trust. The Declaration of Trust provides that these are the Trust’s sole responsibilities and that the Trust is prohibited from engaging in any business activities.
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Payments of the Contingent Portion to the Trust are based on royalty income which the Catalogue generates. The Trust does not own the Catalogue or any copyrights or other intellectual property rights and is not responsible for collecting royalties in connection with the Catalogue. As the current owner and administrator of the Catalogue, EMI is obligated under the Asset Purchase Agreement to use its best efforts to collect all royalties, domestic and foreign, in connection with the Catalogue and to remit a portion of its royalty income to the Trust as its Contingent Portion payment obligation, in accordance with the terms of the Asset Purchase Agreement.
Calculation of the Contingent Portion
The amount of each payment of the Contingent Portion is based on a formula set forth in the Asset Purchase Agreement. For information regarding the calculation of the Contingent Portion and a related dispute between EMI and the Trust see “Contingent Portion Payments” under Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.
Cash Distributions to Unit Holders
The Declaration of Trust provides for the distribution to the Unit Holders of all funds the Trust receives after payment of, or withholdings in connection with, expenses and liabilities of the Trust.
The Copyright Catalogue
The Catalogue is estimated to be composed of over 12,000 music titles (the “Copyrighted Songs”), of which approximately 1,430 produced royalty income in recent years. Based on information which EMI provided to the Trust, most of the royalty income generated by the Catalogue during recent years has been produced by a relatively small number of the Copyrighted Songs with copyrights established primarily in or prior to 1954.
EMI has provided the Trust with a listing (the “Listing”) of the top 50 earning songs in the Catalogue during the 2025 calendar year (the “Top 50 Songs”). The totals contained in the right most column of the Listing represent gross royalty payments EMI received for each of the Top 50 Songs, before it made deductions in accordance with the Asset Purchase Agreement. The Listing also contains the following additional information for each song title: the writer(s), the original copyright date and copyright renewal date and the date on which each copyright enters the public domain in the United States.
The Listing is set forth below in the form that EMI provided to the Trust. There can be no assurance that the Listing is indicative of the future performance of the Copyrighted Songs or that EMI will be able to retain its rights to the Copyrighted Songs during their full term of copyright protection. As of the date of this report, the Trust has not undertaken an audit to confirm the accuracy of the information contained in the Listing, and there can be no assurance by the Trust that the information EMI provided in the Listing is correct.
Top 50 Songs
2025
Rank
Song Title
Writers
Original
Copyright Date
Renewal
Date
Last Year of
Copyright
U.S.
Public
Domain
Year
Gross
Revenue
1
SLEIGH RIDE (VOCAL)
LEROY ANDERSON (50), MITCHELL PARISH (50)
10/24/1950
12/5/1977
2045
2046
1,190,557.59
2
LITTLE DRUMMER BOY
KATHERINE K DAVIS (33.34), HENRY ONORATI (33.33), HARRY SIMEONE (33.33)
4/19/1937
4/13/1965
2032
2033
1,073,052.22
3
SLEIGH RIDE PROMENADE
LEROY ANDERSON (50), MITCHELL PARISH (50)
10/21/1932
10/21/1959
2027
2028
365,657.56
4
On The Sunny Side Of The Street
Dorothy Fields (50), Jimmy McHugh (50)
2/3/1930
2/4/1957
2025
2026
296,430.01
5
It Don’t Mean A Thing (If It Ain’t Got That Swing)
Duke Ellington (50), IRVING MILLS (50)
10/28/1932
10/28/1959
2027
2028
185,761.50
6
STARDUST
HOAGY CARMICHAEL (50), MITCHELL PARISH (50)
4/19/1937
4/13/1965
2032
2033
142,211.84
7
MINNIE THE MOOCHER
CAB CALLOWAY (33.34), CLARENCE GASKILL (33.33), IRVING MILLS (33.33)
10/21/1932
10/21/1959
2027
2028
138,800.31
8
Caravan-Instrumental Version
Duke Ellington (50), JUAN TIZOL (50)
4/19/1937
4/13/1965
2032
2033
123,007.22
9
In A Sentimental Mood (Vocal)
Duke Ellington (50), MANNY KURTZ (25), IRVING MILLS (25)
11/29/1935
11/6/1963
2030
2031
108,176.45
Solitude
EDDIE DE LANGE (33.34), Duke Ellington (33.34), IRVING MILLS (33.32)
9/21/1934
9/4/1962
2029
2030
105,158.36
11
Caravan-Vocal Version
Duke Ellington (25), IRVING MILLS (50), JUAN TIZOL (25)
4/19/1937
4/13/1965
2032
2033
100,929.35
12
In A Sentimental Mood (Instr.)
Duke Ellington (100)
11/29/1935
11/29/1962
2030
2031
100,546.20
13
I CAN’T BELIEVE THAT YOU’RE IN LOVE WITH ME
CLARENCE GASKILL (50), JIMMY MC HUGH (50)
12/31/1926
12/16/1954
2021
2022
85,180.02
14
AIN’T MISBEHAVIN’
HARRY BROOKS (25), ANDY RAZAF (50), FATS WALLER (25)
10/21/1932
10/21/1959
2027
2028
77,989.84
15
Sophisticated Lady
Duke Ellington (50), IRVING MILLS (25), MITCHELL PARISH (25)
5/31/1933
8/16/1961
2028
2029
65,417.59
16
ST. JAMES INFIRMARY
IRVING MILLS (100)
3/4/1929
2/28/1957
2024
2025
62,382.75
17
SLEIGH RIDE (INSTRUMENTAL)
LEROY ANDERSON (100)
12/30/1948
2/23/1976
2043
2044
62,329.17
18
LOVESICK BLUES
CLIFF FRIEND (50), IRVING MILLS (50)
10/21/1932
10/21/1959
2027
2028
61,727.19
19
MAMBO SANTA MAMBO
ALTON HOLLOWELL (20),GERALD HOLLOWELL (20),ULYSSES HOLLOWELL (20),JACK EDWARD THOMAS (20),GEORGE WADE (20)
10/21/1932
10/21/1959
2027
2028
54,919.63
20
MOONGLOW
EDDIE DE LANGE (33.34), WILL HUDSON (33.34), IRVING MILLS (33.32)
10/21/1932
10/21/1959
2027
2028
51,707.35
21
STORMY WEATHER (KEEPS RAININ’ ALL THE TIME)
HAROLD ARLEN (50), TED KOEHLER (50)
9/29/1938
9/8/1966
2033
2034
51,525.34
STRAIGHTEN UP AND FLY RIGHT
NAT KING COLE (50), IRVING MILLS (50)
10/21/1932
10/21/1959
2027
2028
48,045.04
23
Mood Indigo
BARNEY BIGARD (33.33), Duke Ellington (33.34), IRVING MILLS (33.33)
2/21/1931
2/19/1959
2026
2027
46,926.95
24
YOU RASCAL YOU
SAM THEARD (100)
10/21/1932
10/21/1959
2027
2028
42,774.37
25
VOLARE (PARISH VERSION)
FRANCO MIGLIACCI (33.34), DOMENICO MODUGNO (33.33), MITCHELL PARISH (33.33)
4/19/1937
4/13/1965
2032
2033
40,648.40
26
STARS FELL ON ALABAMA
MITCHELL PARISH (50), FRANK S PERKINS (50)
10/21/1932
10/21/1959
2027
2028
39,802.85
27
I CAN’T GIVE YOU ANYTHING BUT LOVE
DOROTHY FIELDS (50), JIMMY MC HUGH (50)
10/21/1932
10/21/1959
2027
2028
36,347.10
28
BUGLER’S HOLIDAY
LEROY ANDERSON (100)
7/8/1954
2/3/1982
2049
2050
34,644.80
29
EVERYBODY EATS WHEN THEY COME TO MY HOUSE
JEANNE BURNS (100)
10/21/1932
10/21/1959
2027
2028
34,277.11
30
SHAKIN’ ALL OVER
FRED HEATH (100)
9/29/1938
9/8/1966
2033
2034
32,971.71
31
I’M GETTING SENTIMENTAL OVER YOU
GEORGE BASSMAN (50), NED WASHINGTON (50)
10/21/1932
10/21/1959
2027
2028
30,965.73
32
SWEET LORRAINE
CLIFF BURWELL (50), MITCHELL PARISH (50)
10/21/1932
10/21/1959
2027
2028
30,576.38
33
I’VE GOT THE WORLD ON A STRING
HAROLD ARLEN (50), TED KOEHLER (50)
11/10/1932
2/26/1960
2027
2028
29,776.24
34
HOLD ME, THRILL ME, KISS ME
HARRY NOBLE (100)
10/21/1932
10/21/1959
2027
2028
29,745.35
35
A CHRISTMAS FESTIVAL
LEROY ANDERSON (100)
11/6/1950
12/9/1977
2045
2046
28,029.42
TYPEWRITER
LEROY ANDERSON (100)
4/19/1937
4/13/1965
2032
2033
27,717.09
37
CORRINE CORRINA
BO CHATMAN (33.34), MITCHELL PARISH (33.32), J WILLIAMS (33.34)
12/5/1929
12/3/1957
2024
2025
18,117.07
38
Prelude To A Kiss
Duke Ellington (33.34), IRVING GORDON (33.33), IRVING MILLS (33.33)
9/29/1938
9/8/1966
2032
2033
17,785.78
39
BLUE TANGO (INST)
LEROY ANDERSON (100)
9/29/1938
9/8/1966
2033
2034
16,420.23
40
THE WALTZING CAT
LEROY ANDERSON (100)
10/21/1932
10/21/1959
2027
2028
15,482.65
41
AMERICAN SALUTE
MORTON GOULD (100)
3/31/1943
2/17/1971
2038
2039
15,439.24
42
I Let A Song Go Out Of My Heart
Duke Ellington (50), IRVING MILLS (16.67), HENRY NEMO (16.67), JOHN REDMOND (16.66)
4/26/1938
4/22/1966
2032
2033
15,184.05
43
Exactly Like You
Dorothy Fields (50),Jimmy McHugh (50)
2/3/1930
1/1/1957
2025
2026
15,076.26
44
CAROL OF THE DRUM
KATHERINE DAVIS (100)
10/21/1932
10/21/1959
2027
2028
14,825.77
45
Echoes Of Harlem
Duke Ellington (100)
8/14/1936
8/14/1963
2031
2032
13,481.32
46
PLINK PLANK PLUNK
LEROY ANDERSON (100)
4/19/1937
4/13/1965
2032
2033
12,072.82
47
Diablo
Josh Berg (12.5), Duke Ellington (25), MANNY KURTZ (12.5), IRVING MILLS (12.5), Malcolm McCormick (37.5)
3/31/1943
2/17/1971
2038
2039
11,654.19
48
A CHICKEN AIN’T NOTHIN’ BUT A BIRD
EMMETT WALLACE (100)
10/21/1932
10/21/1959
2027
2028
11,473.15
49
DIGA DIGA DOO
DOROTHY FIELDS (50), JIMMY MC HUGH (50)
9/29/1938
9/8/1966
2033
2034
11,207.54
50
BELLE OF THE BALL (Instr.)
LEROY ANDERSON (100)
6/4/1953
7/24/1981
2048
2049
9,804.32
Accounting Policies
EMI typically makes payments to the Trust of the Contingent Portion in March, June, September and December for the prior calendar quarter. The payments received are accounted for on a cash basis, as are expenses of the Trust. The Declaration of Trust provides for the distribution to the Unit Holders of the amounts received by the Trust in Contingent Portion payments after payment of, or withholdings in connection with, expenses and liabilities of the Trust.
The Trust’s financial statements reflect only cash transactions and do not include transactions that would be recorded in financial statements presented on the accrual basis of accounting, as contemplated by generally accepted accounting principles in the United States. The Trust does not prepare a balance sheet or a statement of cash flows.