Lil Wayne sues Universal Music Group for $40 million in unpaid profits
 

Lil Wayne sues Universal Music Group for $40 million in unpaid profits
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Lil Wayne has filed a lawsuit against Universal Music Group for allegedly withholding tens of millions of dollars in royalties for artists that Wayne discovered.

In the lawsuit, the rapper — born*Dwayne Carter Jr. — accuses UMG of diverting his profits to repay itself "more than $100 million" it advanced to Cash Money Records, a subsidiary of Universal Music Group.*

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Lil Wayne's Young Money Records is a joint venture with Universal's Cash Money Records. In the 2003 agreement, according to the lawsuit, the parties agreed that Young Money profits and property would be divided between Cash Money and Lil Wayne, with Cash Money receiving 51 percent and Lil Wayne receiving 49 percent. * Read more...


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