Wayne Sues Universal Over Profits For Young Money Artists
While Wayne might be tiptoeing back toward common ground with Baby and Cash Money once again…he still has a few bones to pick with their parent group, Universal Music — about $40 million bones to be specific. Wayne says that he was never properly compensated for bringing in huge-profit artists like Drake and Nicki Minaj, and it’s time for UMG to cut a check.
Last year, Lil Wayne filed a lawsuit against his label, Cash Money, for $51 million, and now he’s going after CM’s parent company, Universal Music Group.
According to The Hollywood Reporter, Tunechi filed suit on Monday in California, claiming that he hasn’t been paid properly for profits from discovering and signing artists like Drake, Nicki Minaj, and Tyga to his label, Young Money, which is a subsidiary of Cash Money and Universal.
The suit alleges that Universal instead has used those earnings to repay itself for a previous $100 million advance to Cash Money: “With Universal’s knowledge of Lil Wayne’s rights to partial ownership and profits from those artists, Universal and Cash Money entered into a series of agreements which, among other things, diverted Lil Wayne’s substantial profits to repay debts of Cash Money,” the suit claims. “As a result, 100% of the profits that should have been paid to Lil Wayne as a result of his ownership of Drake, Nicki Minaj and Tyga records have been seized by Universal to repay debts that were neither incurred by nor were the obligations of Lil Wayne.”
Well of course the label thinks it’s fair not to pay. It will be interesting to see how all of Wayne’s multimillion dollar lawsuits pan out!