Lil Wayne Sells His Masters to Universal Music Group for Over $100 Million
Written by B87FM on December 11, 2020
Lil Wayne is cashing in.
The Younger Cash boss has reportedly bought his masters to Common Music Group for greater than $100 million. In response to TMZ, the profitable deal occurred in June, however was not made public till now as a part of a lawsuit from Wayne’s former supervisor.
Ronald Sweeney is suing Wayne for over $20 million, claiming the rapper employed him in 2005 to assist renegotiate his cope with Birdman and Money Cash. Wayne settled the Money Cash swimsuit in Might 2018, however Sweeney says he solely obtained just a few funds from that settlement, which have been “nowhere close to” what he believes he’s owed.
Sweeney additionally says that across the similar time, Wayne requested him to fireside his longtime supervisor Cortez Bryant over a battle of curiosity in a authorized dispute involving Drake and Money Cash. Sweeney says he did so, and took over Bryant’s duties and even bought Wayne to boost his fee from 10 to 17 p.c. Nevertheless, Sweeney claims Bryant and Mack Maine “conspired to drive a wedge” between him and Wayne, which resulted in Sweeney’s firing in September 2018.
Wayne’s reported $100 million deal comes after Kanye West tried to purchase again his masters from Common over the summer season. Nevertheless, he mentioned his efforts have been being thwarted by a number of contracts he signed. He tweeted out over 100 pages of authorized paperwork, whereas suggesting new pointers for recording and publishing offers.
West additionally introduced that he would give again the 50 p.c share he owns of G.O.O.D. Music artists’ masters, a transfer that was supported by Huge Sean and Desiigner.