Remix competitions

A few lectures ago there was some discussion of artists running competitions for the best remix of their songs (ie Davie Bowie). I found a post on the music production and technology forum of ITM advertising a BigPond music comp for INXS remixes.. the comp closed on May 8, but about half way down the forum there is a post asking about copyright issues.. which is mostly having a whinge about SKY news for using a sample from the comp in there advertising.. but also brings up the fact that the copyright to the entries is owned by INXS. The same as with the david bowie comp: (from the rules section)
By entering your Mash-Up in the Contest, you acknowledge and agree that: (a) db.com will maintain ownership of the elements (including, without limitation, the Masters), and will own all Mash-Ups entered by you in the Contest or otherwise uploaded to the Website (the Mash-Up and all parts of the contest entry being collectively referred to herein as the "Materials"), and (b) as between you and db.com, db.com will own all publishing rights in and to the Materials. Each entrant into the Contest hereby irrevocably grants, transfers, sells, assigns and conveys to the Sponsors, their successors and assigns, all present and future right, title and interest of every kind and nature whatsoever, including, without limitation, all copyrights, all music and music publishing rights, and all rights incidental, subsidiary, ancillary or allied thereto (including, without limitation, all derivative rights) in and to the Mash-Up(s) for exploitation throughout the universe, in perpetuity, by means of any and all media and devices whether now known or hereafter devised (the "Rights"). Sponsors shall have the right, in their sole discretion, to edit, composite, morph, scan, duplicate, or alter, the Mash-Up(s) for any purpose which Sponsors deems necessary or desirable, and each entrant irrevocably waives any and all so-called moral rights they may have in the Mash-Up(s) submitted by him or her. Each entrant hereby acknowledges that such entrant does not reserve any rights in and to the Mash-Ups. Notwithstanding the forgoing, an entrant will retain whatever rights such entrant had in and to any Additional Elements that may be incorporated into a particular Mash-Up, subject to an irrevocable, royalty-free, worldwide, non-exclusive license to use such Additional Elements throughout the universe in perpetuity in any and all media now known or hereafter devised.

so not only to they take the ownership rights to your precious winning entry, they also deny you any royalties, and reserve the right to change it however they want and use it for whatever they want. im pretty sure that kind of contract is worth more than an audi..