POP/ROCK - Jan. 22, 1992

Music ‘n’ Money: Paul McCartney and the newly independent Baltic states will receive $173,000 each as winners of the first Polar Music Prize, presented by the Royal Swedish Academy. McCartney was chosen for “revitalizing popular music worldwide over the last 30 years,” while Estonia, Latvia and Lithuania are getting the money to support their national music. The $692,000 prize, described by the academy as the largest in the music world, will be presented every two years. It was made possible by a $7.6 million donation by Stig Andersson, the man behind the 1970s pop group ABBA. McCartney said he will give away his prize money.