News - Written by The Source on Friday, January 16, 2009 15:36 - 4 Comments
Death Row Executed On The Auction Block
$18 million was the final bid for Death Row Records remaining catalog leaving Death Row co-founder, Lydia Harris heated.
As previously reported, Suge Knight was forced into bankruptcy after former Death Row co-founder Lydia Harris won a $107 million settlement against the label in 2005. In accordance to the settlement, Suge Knight’s assets including the label were to be liquidized to make payment. This is where things get a bit iffy.
The bidding was court-ordered to start at $24 million, which in our opinion, is far less then what masters and unreleased gems from Pac, Snoop, Dre and others should go for. Yet, the catalog sold for $6 million less than what it was supposed to start at.
Wide Awake Holdings, a Canadian-based company placed the winning bid at $18 million; just enough to pay the lawyer fees, the IRS, and other expenses related to the 2005 court case and no one else. How that happened… we’d like to know ourselves.
This all means Lydia Harris aint getting jack. “I’m extremely frustrated with the judicial system that has allowed all of the lawyers to be paid and none of the people who were instrumental in creating Death Row Records to receive a dime,” Harris told Blender in an interview.
The next wave of Suge Knight’s shit heading to the auction block will be made public on January 25th. Suge’s personal effects including some of Pac’s gold and platinum record plaques and two of our own Source Awards given to Dre and Snoop (WTF!) will be up for grabs.
4 Comments
PB&J
It’s about time Suge Knight loses everything. He toook advantage of many people. So Suge Knight God is paying you back for everything wrong that you have done. Everyone knows that you had something to do with Tupac s death. You and the media had something to do with Tupac and Biggies death wether you want to admit. Not one is afraid of you, because in the end your a cowaed and a bully and even the big ones got to fall . Your rise to fame is crumbling and you are not going to have anything to show for it. So as far as I am concern sale all of his ish. No, one cares about ol sugary Suge Knight. Whomp whomp whomp cry me a river. Fact he got arrested after Tupac was shot and Suge got grazed in the head. The witnesses for the Tupac murder some of them were killed. All of the links point back to your ties from your football career to being a bouncer and so called affilated with being a blood. Yeah. Take responsiblity and take the blame. You along with the media set two of the best rappers of there time to get killed. So I don’t give three ish about Marion flakey Suge Knight.
WhiteCheezWhiz
I’m glad that wack label lost label finally lost it..it was wack and abusive and im glad she lost out on it because they were no good anyway
i totally concur, i also thought he was on to Suge in some sort of illegal racket , but what do i know
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That’s messed up, she should at least got a doggy bag lol…but if people would stop being so greedy then maybe they would get something…and besides Death row hasn’t been hot in YEARS so she needs to get over it….