Rap label trustees seek new buyers
Trustees in the bankruptcy of Death Row Records asked a judge to let them seek new buyers for the rap label, saying that the winning bidder in a June auction, Global Music Group Inc., had failed to close the $24-million deal.
The two trustees also asked the Los Angeles bankruptcy judge to order Global Music Group to stop saying it had the “exclusive” rights to purchase Death Row’s assets.
Partners in Global Music Group who were fighting among themselves for control of Death Row Records said Aug. 13 they had reached a truce and would work together to close the sale after missing a July 23 deadline. A lawyer representing Global Music Group said her client still intended to complete the purchase.