Contrary to online reports, "thousands of original recording masters" from the Decca, MCA and ABC labels were not destroyed in a fire on the Universal Studios lot in Los Angeles over the weekend.

"We had no loss, thankfully," a Universal spokesperson tells Billboard. "We moved most of what was formerly stored there earlier this year to our other facilities. Of the small amount that was still there and awaiting to be moved, it had already been digitized so the music will still be around for many years."

The spokesperson continues, "Moreover, in addition to being digitized, we also had physical back up copies of what was still left at that location, so we were covered."

The fire did destroy some famous movie props, including the courthouse square from "Back to the Future," and an exhibit with a mechanical King Kong.