Global Music Group Buys Death Row For $25 Million
Global Music Group has purchased Death Row Records for $25 million. The prized hip-hop label was started by Marion “Suge” Knight in 1991 and skyrocketing into prominence with releases by Dr. Dre, Snoop Dogg and Tupac Shakur. However after years of financial mismanagement, prison terms, and other dodgy outcomes, Death Row was put into receivership when Knight filed bankruptcy in the wake of a $107 million judgment he was ordered to pay to label co-founder Lydia Harris.
Global Music Group, a Tennessee-based independent label, was able to score Death Row outbidding Warner Music Group, EverGreen Copyrights and Koch Entertainment, who were also vying for the assets.
Susan Berg, the label’s owner, is interested in releasing a new Tupac Shakur album by year’s end since the majority of the company’s assets are Tupac Shakur related. However, sorting through the assets to determine what rights Death Row holds in masters and publishing may be a challenge, as approval rights for future uses of Shakur’s works still must go through EverGreen and Shakur’s heir. EverGreen reportedly did not purchase Death Row because “it’s a hornet’s nest of unpaid bills, including claims by countless songwriters who never received royalties” according to a company spokesperson.
However, Global now owns at least several albums worth of Shakur music. Considering how much Tupac dribble has been coming out, a new album by Christmas is not out of the question.