Drama Continues For Death Row Records
Death Row Records' ongoing drama and court battles are not over.
As previously reported Dr. Dre sued Death Row, now owned by WIDEawake Entertainment, in February for royalties after he says they re-released The Chronic without his permission.
Now however WIDEawake/ Death Row is facing more drama, this time for stipulations on the loan used to buy the embattled label.
According to an interview in Canadian Business Magazine, Robert Thompson-So of New Solutions Capital Group financed WIDEawke's $18 million purchase of Death Row but has yet to be paid back.
Speaking on the debt New Solutions has incurred since the purchase, Thompson-So estimates it to be between $23 million and $25 million and says,
“If someone would pay the amount of the debt incurred plus a dollar, we're out. This is just another commercial loan transaction that started as a workout and continues to be a workout. Please - step up to the table and take us out.”
Thompson-So also tells Canadian Business that he's willing to take over the label if need be, a measure he doesn't want to take.
Adding to the complications is the fact that the ownership of the company is not exactly clear. A federal judge ruled that Lavi was not an officer or director of the company and ordered her to not interfere with Death Row operations.
Lavi has since announced plans to acquire the label herself but will not say how she plans to finance the transaction.
Drama, drama, drama…sheesh.