Death Row Records is bought by Global Music

Death Row Records, the hip-hop label that released seminal gangster rap albums by Tupac Shakur, Dr. Dre and Snoop Dogg, has been auctioned for $24 million.

New York-based Global Music Group Inc. said Monday that it had purchased Death Row, including its enviable back catalog and current artist contracts.

The purchase concluded the roller-coaster saga of one of hip-hop’s most famous labels. Under owner Marion “Suge” Knight, Death Row sold tens of millions of albums in the heyday of early ‘90s rap -- its artists often flashing the spoils of the high life in music videos -- before collapsing in debt and mismanagement.

Lydia and Michael Harris claimed in court that they helped found the label and won a judgment of $107 million, which they tried to collect in 2006. Unable to pay, Death Row and Knight filed for bankruptcy protection in April 2006, claiming debts of more than $100 million.

In 2006, a federal judge ordered a bankruptcy trustee takeover of Death Row Records, saying the label had undergone gross mismanagement. Knight’s decision to file for bankruptcy protection staved off a move by the court to appoint someone to take control of the record label and his assets.

Global Music Group, an independent label, takes ownership of albums including Dr. Dre’s “The Chronic,” Shakur’s “All Eyez on Me” and Snoop Dogg’s “Doggystyle.”