|
What will happen to Death Row? It’s fate continues to be up to independent record label Koch Records as it positions itself to buy the label that once ruled the rap industry.
The New York Post is now reporting that Koch is one of two companies who stand the best chance of purchasing Death Row.
The other company, Evergreen Copyrights, made its presence
known in May by purchasing the writer's share of Death Row rapper Tupac
Shakur's music catalog.
Although the music publisher and Koch are in the running to
obtain Death Row, two sources involved in the process told The Post that the
sale of the label remains stalled in light of outstanding claims from producer
Dr. Dre and Afeni Shakur.
Dre's claim is over royalty payments pertaining to his
classic Death Row release The Chronic.
Afeni Shakur's dispute with the embattled label involves the
question of who owns the rights to unreleased music by her son Tupac.
Death Row controls the rights to roughly 10,000 master
tracks.
In addition to the outstanding claims, the sources revealed that
confusion exists among buyers as to what assets Death Row founder Marion "Suge"
Knight still holds over the label.
The circumstances surrounding the sale and assets are latest
in a series of events surrounding Death Row since the label filed for bankruptcy
in April 2006, listing $137 million in debt and just $4.4 million in assets.
Sources estimate that Death Row will get less than $20
million on net revenue of roughly $2 million.
|
