Death Row’s Going-Out-of-Business Sale
Death Row Records has auctioned off their assets at the low low price of $18 million. The sale included master recordings of Snoop Dogg, Dr. Dre, and Tupac Shakur, which all went to buyer WIDEawake Entertainment Group, a development company out of Canada.
It seems no one is making money from the cheap sell – the money will be shipped off to lawyers, Chapter 11 fees, and the always lovable IRS – leaving creditors like co-founder Lydia Harris shit out of luck. Harris told Billboard:
“This was all a scam from the beginning. Everyone wanted me to bring judgment down, and so I brought on the case. But now I’m not getting paid because I’m an unsecured creditor? Yet, administrators are getting paid and Suge [Knight]’s bills are getting paid? If it wasn’t for me no one would be getting money. They made sure it happened this way because I was their biggest creditor. There must be some internal thing going on and I’m obviously not in on it.”
Ouch.
However, it should be noted that when Harris won a share of Death Row and a $107 million judgment in 2005 she helped Death Row put one foot in their Chapter 11 grave. Despite being out $107 million, Harris formed her own label recently, called Lady Boss Entertainment – though she’d planned on funding it with her settlement money. Instead Harris, self-proclaimed “victim,” is issuing a desperate cry for investors.
Seems that Harris wasn’t fully aware of whom she got into business with. Suge Knight was once supposed to have had issued the death warrant on Tupac’s life as the exec was deep in the red to the artist and had no intention of paying.
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