Lil Wayne Sues Universal Music Group For 40 Mil Over Profits From Drake, Nicki and Tyga
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Lil Wayne is bringing a multi-million dollar lawsuit against Universal Music Group, the parent company of Cash Money Records, under which his own Young Money Records is a joint-venture. In the suit, Wayne alleges that Universal withheld tens of millions of dollars in payments to him stemming from the success of his artists Drake, Nicki Minaj, and Tyga.
According to a statement from Wayne's lawyer, at the time Cash Money owed Universal $100 million for advances it had received. As such, Wayne alleges that Universal withheld his portion of the profits from his Young Money artists in order to pay itself back for the debts Cash Money had accrued. This occurred despite the fact that Cash Money only owns 51% of Young Money, with the remainder being held by Wayne directly.
"Ignoring Lil Wayne’s documented ownership interest in the records of these artists, Universal confiscated Wayne’s profits to repay the large Cash Money Records debt for which neither Wayne nor his Young Money Entertainment company has any responsibility," said a representative for his lawyers in a statement. "Universal further deprived Wayne of millions of dollars in SoundExchange royalties owing on account of his ownership of these records."
According to a report from The Hollywood Reporter, Wayne is seeking $40 million. The agreement between Young Money and Cash Money expired last June, and as such, Drake's upcoming album could be subject to political infighting over the profits.
This lawsuit is separate from the $51 million suit he brought against Cash Money's Birdman last year. The pair have gone through great lengths to bring their infighting back under wraps recently, but much remains unsettled in that case as well.
Comments
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So... Weezy is seeking residency UMG's bushes???
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I think Birdman showed Wayne the paperwork
"You shooting in the wrong direction pleighboi. I can only pay you what Universal pay me. You my son. One hunnet. Gtv cases." -
You signed to one ? thats signed to another ? thats signed to three ? now thats bad luck
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Is anybody paying anybody in this situation? Like wtf?
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Whats the definition of insanity
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Birdman got a $100 mill advance, this is the only ? thats getting paid
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Profits from Drake, Nicki, and...
Tyga?
C'mon son...
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Turfaholic wrote: »I think Birdman showed Wayne the paperwork
"You shooting in the wrong direction pleighboi. I can only pay you what Universal pay me. You my son. One hunnet. Gtv cases."
Funny thing is, this is prolly exactly what happened. -
"Yo Devonte owe a ? 50, I'll pay you back when he pays me. Ight go holla Von then"
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shoulda signed with Jay when he had a chance
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shoulda signed with Jay when he had a chance
Yup, this is a awful case of not being a boss. Cash Money owe Universal $100,000,000 in advances. Look at all those zeros. $100,000,000 sound like Baby and Slim haven't paid for the helicopter Mannie Fresh hopped out of in the Bling Bling video -
Wayne keeps gettin screwed by birdman's shady business practices
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Wayne should have been reading his contract instead of doing lean
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So let me get this straight..... UMG pays Birdman $100,000,000 in advance money for Cash Money/Young Money Birdman then proceeds to basically pocket the money and try and rely on Wayne and his Young Money artist to make that money back but then when they don't UMG starts withholding money owed to Wayne while Birdman still sitting on that $100,000,000???? And fools STILL sign to this ? wtf!!!??? Jesus grab the wheel
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Turfaholic wrote: »shoulda signed with Jay when he had a chance
Yup, this is a awful case of not being a boss. Cash Money owe Universal $100,000,000 in advances. Look at all those zeros. $100,000,000 sound like Baby and Slim haven't paid for the helicopter Mannie Fresh hopped out of in the Bling Bling video
Then ? ain't pay for the hummer riding around the cash money is a army video -
They probably owe juvenile at least 3 gold teeth
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how come no one ever calls out birdmans brother if they business partners
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Would you call out a dude that look like this? -
SheerExcellence wrote: »
Would you call out a dude that look like this?
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Lil homie gon be straight! Carter 5 coming very soon
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2stepz_ahead wrote: »how come no one ever calls out birdmans brother if they business partners
You NEVER call out slim!! -
People always have positive things to say about Slim, Birdman not so much
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All bad smh. The opportunities this brotha had. Wow
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Lil homie gon be straight! Carter 5 coming very soon
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SheerExcellence wrote: »
Would you call out a dude that look like this?
*Jay Z voice*
Ol' Dead Eyes my ? ...