Death Row Records Auctioned for $24M

Posted: 2008-07-15 12:32:48

Filed Under: Entertainment News, Top News

NEW YORK --- Death Row Records, the hip-hop label that released seminal gangster rap albums by Tupac Shakur, Dr. Dre and Snoop Dogg, has been auctioned for $24 million.

The New York-based Global Music Group Inc. said in a statement to The Associated Press on Monday that on June 24 it purchased Death Row, including its enviable back catalog and current artist contracts.

Black Music Notes Oct. 30

10/20/09: Jaheim
Thuggish ruggish R&B singer Jaheim is gearing up to release a new album -- his fifth -- next year, and he already has a new song out that hit radio outlets this week. Titled 'Ain't Leavin Without You,' the mid-tempo track was produced by his longtime producer Kaygee (of Naughty by Nature) and samples of The Whatnauts' 'Help Is On The Way.' According to a rep for the 31-year-old New Brunswick, New Jersey-bred crooner, the as-yet-to-be-titled album will be released in February 2010. Listen to the song here.

Warner

10/28/09: 'Precious' Soundtrack
With the big screen premiere of the Oprah Winfrey/Tyler Perry-produced much-buzzed about film, 'Precious,' hitting theaters on Nov. 6, the motion picture soundtrack will be available days before. The 12-track album, which includes Queen of Hip Hop Soul Mary J. Blige as an executive producer, features her new single 'I Can See In Color.' Other notable tracks include Mahalia Jackson's classic 'Just A Closer Walk With Thee,' Queen Latifah's house music classic 'Come Into My House,' Grace Hightower's 'Somethin's Comin' My Way,' in addition to Labelle's 'System' and 'It Took A Long Time.'

Lionsgate

10/27/09: Janet Jackson
Over the past few months, Janet Jackson has been spotted out and about at various public events appearing joyful. To bring a little more delight to her fans the pop icon is currently back in the lab working with producer Rodney Jerkins for her upcoming as-yet-untitled 11th studio album. According to the hitmaker, Jackson is talking about a lot of topics on the album. "There's things that she told me that I didn't even realize," he revealed to 'MTV News.' "You know, certain [things] like self-esteem that I didn't even realize that she dealt with for years that, you know..." Jerkins went on to confirm that Jackson recently recorded a song with rapper Pitbull. A release date has not been announced for the album.

Getty Images

10/26/09: Mario
Despite Mario's hit single 'Break Up' landing on Billboard's Hot R&B/Hip-Hop Songs chart at #2 for 11 consecutive weeks, the crooner's fourth album, 'D.N.A.' failed to meet its expectations by selling 32,000 copies its first week, according to Nielsen SoundScan. However, Mario is determined to make the best from his misfortune. "I can't say why I don't get my just due, but it only makes me hungrier," he told Billboard. "I want to continue challenging myself and making incredible music that will connect with fans around the world. I plan to keep creating a distinctive lane for myself. 'D.N.A.,' with the help of 'Break Up,' does just that."

Getty Images

10/27/09: Akon/Michael Jackson
When it came to setting the bar for artist Michael Jackson will always be remembered as a perfectionist. That's a very unique character trait in which Akon can recall as one of the most memorable. "He was never satisfied," Akon recently explained. "Like, we might have passed up ideas that I know for a fact were smashes. He'd be like, 'Nah, nah - we got to come up with something better.' We can never do better 'cause his expectation was so high. It was almost to a point where we would have to get a record and I would believe in it and just put it out, 'cause it would never come out 'cause he always believed we could do better."

Getty Images

10/23/09: Corinne Bailey Rae
With the suicide of her husband, Jason Rae, last year, much hasn't been heard from Grammy Award winner Corinne Bailey Rae. But the British pop soul singer/songwriter is readying a return to the music scene with her new album, The Sea, at the top of next year. According to a rep, the set was recorded mainly in Leeds and Manchester, England. Rae will play a select number of shows in the U.S. and her native U.K. in December, with details forthcoming. Fans can hear a preview of 'The Sea' at Bailey Rae's official website.

Getty Images

10/22/09: Wyclef Jean
Before he was shouting "One Time" on the Fugees' classic hit 'Killing Me Softly' and telling Shakira that her 'Hips Don't Lie,' Wyclef Jean started his prominent career in rural Haiti. The Grammy Award-winning producer will talk about his humble beginnings in addition to his musical and philanthropic success in his forthcoming memoir. Jean will collaborate with Rolling Stone magazine writer and author Anthony Bozza for the as-yet-untitled tome. Financial terms weren't disclosed and a release date hasn't been set.

Getty Images

10/22/09: Eric Benet/Ledisi/Mint Condition
When it comes to uniting three talented Neo-Soul acts for one tour, there's only one word used to describe their setting: Sexy! Hence, the paring of Eric Benet, Mint Condition, and Ledisi for their upcoming 'Sexy Sou Tour.' The 19-city tour, set to begin on Oct. 29 in Houston, will find all three critically acclaimed music makers bringing their romantic hits to stage. The 'Sexy Soul Tour' ends Dec. 6 in Dallas.

Getty Images/AOL

10/20/09: Timbaland
Hit maker Timbaland is assembling his very own major project, 'Shock Value II,' set for a Nov. 24 release. Billboard reports the super producer recently debuted his new single featuring French-American singer SoShy titled, 'Morning After Dark.' If that's not enough, the album is expected to feature appearances by Justin Timberlake, Gucci Mane, Drake, Katy Perry, Miley Cyrus, T-Pain, Chris Brown, Keri Hilson, and Brandy among others.

Getty Images

10/20/09: TLC
Since Lisa "Left Eye" Lopes' 2002 death, TLC members T-Boz and Chilli were reluctant to recording any new material under the group name. However, recently the duo revealed to 'MTV News' that they were contemplating releasing a new album in the near future. "Well, first I have to say, when people say, 'coming back together,' we've always been together. We're always TLC," said Chilli. "We're not the former members of TLC. This is TLC right here, no new people in the group. It's just T-Boz and Chilli." The pair went on to clarify that they're still in the planning stages and haven't started recording as of yet.

Getty Images

The purchase concluded the roller-coaster saga of one of hip-hop's most famous labels. Under owner Marion "Suge" Knight, Death Row sold tens of millions of albums in the heyday of early `90s rap - its artists often flashing the spoils of the high life in music videos - before collapsing in debt and mismanagement.

A former couple, Lydia and Michael Harris, claimed they helped found the label, and won a judgment of $107 million, which they tried to collect in 2006. Unable to pay, Death Row and Knight filed for bankruptcy in April 2006, claiming debts of more than $100 million.

In 2006, a federal judge ordered a bankruptcy trustee takeover of Death Row Records, saying the label had undergone gross mismanagement. Knight's decision to file for bankruptcy protection staved off a move by the court to appoint someone to take control of the record label and his assets.

Global Music Group, an independent label, takes ownership of albums including Dr. Dre's "The Chronic," Shakur's "All Eyez on Me" and Snoop Dogg's "Doggystyle."

Other assets are believed to include unreleased material from Shakur that could result in another posthumous release from the rapper.

Knight has a history of legal problems. He was convicted of assault in 1992 and placed on probation, then jailed for five years in 1996 for violating that probation.

He was returned to jail in 2003 for again violating parole, this time by punching a parking attendant at a Hollywood nightclub. He was released the next year.

In 2006 under questioning from his creditors, Knight denied having money tucked away in foreign countries. His bank account then contained just $11.

Global Music CEO Anthony Davi, Jr., said the label planned to get "the best economic results of the catalog and provide long term stewardship of the artists' work." The company plans to later announce details of its plans for Death Row.

Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.

2008-07-14 17:02:59

Bookmark

Feed

Memorial Appears Near Ohio Home Where Bodies Found

For days, there were no memorials in a run-down neighborhood where 11 bodies were found in one home. No flowers or framed photos. Just a few small... Read More

First Lady Launches White House Mentoring Program

First lady Michelle Obama launched a mentoring program Monday to give local high school girls access to women at the White House. Read More

Handful of Elections Shed Light on U.S. Politics

Most Americans won't vote Tuesday. Still, a handful of elections in a few states will give hints about this country's state of mind, provide lessons... Read More

White House: 650,000 Jobs in New Stimulus Report

More than 650,000 jobs have been saved or created under President Barack Obama's economic stimulus plan, the White House said Friday, saying it is on... Read More

No Guarantees on Senate Health Bill's Public Plan

The focus of the health overhaul debate now shifts to whether Senate Majority Leader Harry Reid can persuade a handful of moderate senators to get... Read More

Feed

More BlackSpin Headlines

Our Lens Sept. 1

Hector Jackson (C), who impersonates the late US pop star Michael Jackson, gestures while he takes part in the "I do dance Thriller" event which attempts to break the Guinness World Record for the biggest mass "Thriller" dance, in Mexico City, on August 29. Up to 15,000 people are expected to take part in a potentially record breaking mass performance of Michael Jackson's famed "Thriller" dance on the day he would have turned 51.

Omar Torres, AFP/ Getty Images

A long line of fire marches west towards the communities of Acton and Sunland-Tujanga on August 31 in Los Angeles, California. At least 18 homes were destroyed and 12,000 more homes and 500 commercial buildings are being threatened in the fire which already took two lives. The wildfire, which broke out Wednesday afternoon near a ranger station and the Angeles Crest Highway above La Canada Flintridge, has forced thousands of evacuations.

Kevork Djansezian, Getty Images

Venus Williams of the United States reaches for a shot against Vera Dushevina of Russia during day one of the 2009 U.S. Open at the USTA Billie Jean King National Tennis Center on August 31, in Flushing neighborhood of the Queens borough of New York City.

Chris McGrath, Getty Images

A Kenyan Muslim child reads verses from the Quran, Islam's holy book, on the fifth day of the Muslim holy month of Ramadan in a Madrassa (Religion School), in Nairobi, Kenya, Wednesday, Aug. 26. Muslims throughout the world are celebrating the holy month of Ramadan, where observants fast from dawn till dusk.

Sayyid Azim, AP

Space Shuttle Discovery lifts off from launch pad 39-A at the Kennedy Space Center on August 28, in Cape Canaveral, Florida. Discovery is scheduled for a 13-day mission to the International Space Station.

Joe Raedle, Getty Images

Host Vanessa Williams performs with dancer Gilles Marini onstage at the 36th Annual Daytime Emmy Awards at The Orpheum Theatre on August 30, in Los Angeles, California.

Jesse Grant, WireImage

A girl plays with tomato pulp during the annual "Tomatina" tomato fight fiesta in the village of Bunol, near Valencia, Spain, Wednesday, Aug. 26. Bunol's town hall estimated more than 40,000 people, some from as far away as Japan and Australia, took up arms Wednesday with 100 tons of tomatoes in the yearly food fight known as the 'Tomatina' now in its 64th year.

Alberto Saiz, AP

Tom Wainaina recounts the events that lead to his being burned over most of his upper body August 26 in the Kibera slum in Nairobi, Kenya. Wainaina was burned by a group of men during post-election violence in Kenya's disputed 2007 presidential election. Ethnic-tribal violence left over 1,000 people dead. The non-governmental organization (NGO) Concern, in cooperation with local Kenyan groups, has launched a campaign to provide the urban poor with cash grants to start a business or get back on their feet after suffering disproportionately from post-election violence in 2007. The money is transferred to the recipients via a mobile phone which insures a safe and simple financial transaction to customers who don?t have bank accounts. Wainaina is one of dozens of Kibera residents to receive the assistance of a cash grant. Hairdressers, grocery stores and food vendors are just some of the businesses that have been financed through the program.

Spencer Platt, Getty Images

People standing near the grave of Senator Robert F. Kennedy (D-NY) look at the grave of Senator Edward Kennedy (D-MA) at Arlington National Cemetery August 30, in Arlington, Virginia. Senator Edward Kennedy (D-MA) was buried yesterday next to his brothers President John F. Kennedy and Senator Robert F. Kennedy (D-NY) after he died of brain cancer on August 25.

Brendan Smialowski, Getty Images

US President Barack Obama takes out his daughters Malia (R) and Sasha (2nd L) and niece Suhaila Ng (L) to shop in the Alleys general store on Martha's Vineyard, Massachusetts, on August 30, 2009.

Jewel Samad, AFP/ Getty Images