Suge Knight Auctions Off Death Row Records
Posted on June 26, 2008 by Jamie Slaughter
On Wednesday Suge Knight was forced to auction and sell off the entire hip hop label, Death Row Records. TMZ has reported that Global Music Group's president Susan Berg won the auction with a winning bid of $24 million. The purchase puts her in complete control of all the recordings ever released on the label, including groundbreaking albums from the likes of Tupac Shakur, Snoop Dogg and Dr. Dre, who all released records on the Death Row label during their illustrious careers. Berg now also owns the rights to twenty unreleased 'Pac tracks which could quite possibly be brought together and released as an album.
Suge Knight reluctantly sold the label after a court judge ordered him to sell off all his assets to the highest bidder, after a bankruptcy situation. The situation stemmed from an incident back in 2005 when Suge Knight was forced to pay a staggering $107 million to ex-partner Lydia Harris who claimed that he had kept her profits before being removed from the label. The payout led Knight to file for federal bankruptcy in 2006.
Warner Music Group and Koch Records were also thought to have expressed an interest in purchasing the label and music catalog, but Berg emerged victorious.