AEG Claims Young Thug Sold His Music Catalog Without Their Consent
AEG Claims Young Thug Sold His Music Catalog Without Their Consent. In a surprising turn of events, music industry giant AEG has decided to take legal action against famous rapper Young Thug over the sale of his music catalog. The lawsuit, which has been filed in court, alleges that Young Thug unlawfully sold his music catalog without AEG’s consent, resulting in a breach of contract.
AEG Takes Legal Action Against Young Thug
AEG Claims Young Thug Sold His Music Catalog Without Their Consent.
Hot97 stated that the $16 million publishing agreement was made with Jeffrey Williams in 2021. According to AEG, the rapper allegedly misappropriated millions from the publishing company.
Now, Young Thug is facing a multimillion-dollar lawsuit by AEG. Instead of honoring this alleged contract with AEG, Young Thug signed with Kobalt Music in 2021.
The alleged contract between Young Thug and AEG started in 2017. The contract details included Young Thug giving them exclusive rights to promote his performances.
Additionally, Young Thug transferred copyright publishing from his music catalog. We learned that the alleged Young Thug borrowed $5.25 million from AEG.
As stated by All Hip Hop, Young Thug allegedly failed to meet his loan agreement. Now that he has been released on probation, AEG is proceeding with litigation.
Lawsuit Filed Over Sale of Music Catalog
The lawsuit filed by AEG against Young Thug centers around selling his music catalog to a third party. AEG claims that Young Thug had no authority to sell his music catalog without their consent.
According to AEG’s attorney, Kathleen Jorrie stated,
Kathleen Jorrie, AEG’s attorney, stated, “Despite granting AEG the exclusive right to promote Mr. Williams’ concert performances under the 2017 Artist Agreement, YSL and Mr. Williams failed to honor their obligations, disregarding AEG’s rights, performing concerts without involvement, and keeping all proceeds.”
Although AEG claims they are owed millions from Young Thug, he has not responded. At this time, we are waiting to see how this situation will play out.
It sounds like AEG is prepared to sue Young Thug. These kinds of situations happen regularly within the music industry.
Unfortunately, the lawsuit may take years to resolve. Perhaps Young Thug will be held responsible for paying AEG.
But for now, Young Thug must concentrate on releasing new music. This way, he can meet any monetary obligations he has incurred.
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