Follow Me On Twitter @BuckieNaked
Music lovers hoping to get a piece of former G-Unit member Young Buck now have their chance with reports claiming his intellectual property, which includes song compositions and royalties, will be available for the right price.
According to reports, the rapper’s situation is a result of bankruptcy woes.
The IP is going up for sale as part of Young Buck’s Chapter 7 bankruptcy liquidation, which a judge ordered the rapper into last year after he couldn’t come up with a viable business plan. Now, bankruptcy trustee Jeanne Burton is in charge of selling off Young Buck’s assets, including all of the rapper’s IP. According to court papers, that includes “trademarks and copyrights, all masters, compositions, royalties, rights and licenses owned by debtor and all rights of publicity owned by debtor.” Burton couldn’t be reached to elaborate. Intellectual property expert Gabe Fried told Bankruptcy Beat that buyers, particularly music industry folks, are interested in masters because they give the owner the ability to re-release songs and license the content for third-party use (like for advertising). And royalties entitle the owner to specified revenue from distribution or airplay of the songs. (Wall Street Journal)
Following the upcoming auction, Buck should be freed from any further G-Unit obligations.
Burton is proposing to sell the intellectual property at a May 14 auction at the Nashville law firm of Harwell Howard Hyne Gabbert & Manner. First, though, the U.S. Bankruptcy Court in Nashville, Tenn., must sign off on the auction proposal. The move will free up David Darnell Brown–the rapper’s real name–for a fresh start. That fresh start could come with none other than G-Unit, the record label he’s still tied to but hasn’t recorded for due to a failing out with label founder 50 Cent. (Wall Street Journal)
Recently, Buck Marley hinted at his G-Unit contractual requirements possibly coming to an end.
“I’ma be honest with y’all. Right now, finally, we’re having some kind of negotiations with what we’ll be able to do as far as the G-Unit situation. So y’all will be the first ones to hear but I’m able to tell you the wait is over. It’s definitely over. I don’t want to put a time limit on it, but the wait is absolutely over, and we’re just trying to figure out what’s the best situation for us far as where am I gonna go. I don’t think I’m going to be able to complete the last few albums I have on G-Unit. But hey, at the end of the day, it is what it is. The past is the past and we’re living in the present.” (Back On My Buck Sh*t)
Over the weekend, the rapper said he wanted to get back on speaking terms with G-Unit.
“It’s been a long time since I’ve had any kind of conversation with [Lloyd] Banks, [Tony] Yayo, 50 [Cent], anybody really through that camp over that way,” Buck told DJ Whoo Kid in an interview. “It’s been even a long time since I heard your voice to even have a conversation and we having it on air, live for the people. … At the end of the day, we’ve made history and I would never not consider not being a chance for us to make history again if ever given the opportunity or chance. My thing is, at the end of the day, we only get older out here in this situation, in life, in itself and the older I became, the wiser I became at the same time.” (Shade 45)