Young Thug Legal Woes
Legal Battle Over Publishing Deal
Young Thug may have just settled one legal matter, but the rapper is now being accused of wrongfully receiving millions in a publishing sale.
AEG Lawsuit
According to AllHipHop, entertainment conglomerate AEG is suing Young Thug amid claims the rapper netted a $16 million publishing deal in 2021 despite AEG having received control of the copyrights included in the agreement.
Background of the Agreement
AEG contends that they entered an agreement with Young Thug in 2017, with the Atlanta native receiving a $5.25 million loan, with the rapper later relinquishing the copyrights to a portion of his music as collateral for the unpaid loan. As part of the deal, AEG received exclusive global rights to promote his live shows.
Despite vowing to pay off the loan with interest, Young Thug instead defaulted on the loan and sold off the copyright stakes to over 400 of his works in 2021, prompting AEG to take legal action against the hitmaker.
However, the rapper’s arrest in May 2022 amid the YSL RICO indictment and subsequent trial put a halt on AEG’s ability to seek compensation for the alleged damages incurred.
Per the lawsuit, AEG is seeking the $5.25 million loaned to Thug, with interest, as well as all earnings the rapper received from the publishing sale.
Deal with Kobalt Music
In 2021, Young Thug entered an agreement with Kobalt Music, with Kobalt assuming administration of his publishing for works released after April 2021.
“Young Thug’s track record for impacting the modern sound of hip-hop, trap and popular music is undeniable,” Kobalt Music’s vp of creative, Jill Tschogl, said of the hitmaker at the time. “He is not only one of the most influential songwriters and artists in rap today, but a cultural icon. It’s an honor to work closely with Young Thug and his team. We look forward to supporting his incredible talent and artistry.”
Conclusion
In conclusion, Young Thug’s legal battles over his publishing deals highlight the complexities of the music industry and the importance of contractual agreements. The outcome of these lawsuits will determine the future of his music career and financial obligations.
FAQs
Q: What is Young Thug being accused of in the lawsuit?
A: Young Thug is being accused of wrongfully receiving millions in a publishing sale despite contractual agreements with AEG.
Q: What are the main claims made by AEG in the lawsuit?
A: AEG claims that Young Thug defaulted on a $5.25 million loan and sold off copyright stakes to over 400 of his works, leading to legal action.
Credit: www.vibe.com
