Death Row, the once-notorious, now-bankrupt rap label, had been close to securing a deal to sell its catalogue to Global Music Group. But the company couldn’t come up with the necessary $24 million, so Death Row is up for sale yet again.
In other news, we guess efforts to change the label’s name to “Tha Row,” didn’t stick.
NYP: A new scramble is on to buy the assets of bankrupt rap label Death Row Records, after trustees for the estate on Friday terminated a $24 million deal to sell the catalogue to New York-incorporated Global Music Group Inc.
Trustees representing Death Row Records and its founder Marion “Suge” Knight Jr. voided the deal after Global Music, headed by Susan Berg, failed to come up with the money to purchase the label’s copyrights and artist contracts two months after wining the bid, according to court papers.
Global Music’s bankruptcy lawyer Kathleen March insisted yesterday that the estate’s move is merely a negotiating tactic and the company still plans to close the transaction within a few weeks. She said Global Music has lined up an as-yet-unnamed publicly traded company to fund the $22 million it still owes for Death Row.
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