Irv Gotti‘s Murder Inc. and Kevin Liles‘ 300 Elektra Entertainment (3EE) have brokered a multi-year strategic distribution deal, Billboard has learned.
Under the deal, which was signed Wednesday (July 6), 3EE will exclusively distribute physical and digital formats for Murder Inc.’s new recorded music. Additionally, Murder Inc. will be able to leverage 3EE’s marketing and promotion teams across more than 50 territories, thanks to the vast reach of 3EE’s parent company Warner Music Group. Gotti tells Billboard he’ll maintain ownership of Murder Inc.’s masters under the deal.
“I’m excited to join forces with Kevin Liles again, as we take it back to our roots, where we generated over a billion dollars in revenue at Universal Music Group,” says Gotti, referencing Murder Inc.’s prior home at UMG/Def Jam during Liles’ run as Def Jam president. “I look to continue to build our legacy together and foster a new generation of artists and timeless music.”
Gotti, neé Irving Domingo Lorenzo Jr., sold a 50 percent ownership stake of Murder Inc.’s master recordings to Oliver Chastan’s music rights and brand management company Iconoclast last month in a massive $300 million acquisition, including a $100 million payout coupled with a tiered $200 million in funding for future TV and film projects. Gotti maintains ownership of the masters for Murder Inc.’s upcoming music recordings following the sale.
Gotti notes that his entertainment company, Visionary Ideas Entertainment, is also now in talks with major distribution networks for upcoming film and TV projects, including an all-new hip-hop competition show through which the veteran mogul will seek to identify one talented individual who demonstrates exceptional skills as both a rapper and actor. Visionary is also developing Tales Presents: We Made it in America, a film based on the Gotti-produced BET series Tales.
Founded by Irv and Chris Gotti in 1998, Murder, Inc. released music by artists including Ja Rule, Ashanti and Christina Milian during its late ’90s-to-mid-’00s heyday.
[flexi-common-toolbar] [flexi-form class=”flexi_form_style” title=”Submit to Flexi” name=”my_form” ajax=”true”][flexi-form-tag type=”post_title” class=”fl-input” title=”Title” value=”” required=”true”][flexi-form-tag type=”category” title=”Select category”][flexi-form-tag type=”tag” title=”Insert tag”][flexi-form-tag type=”article” class=”fl-textarea” title=”Description” ][flexi-form-tag type=”file” title=”Select file” required=”true”][flexi-form-tag type=”submit” name=”submit” value=”Submit Now”] [/flexi-form]
Tagged: 300 Elektra Entertainment, business, entertainment blog, irv gotti, Kevin Liles, murder inc, music blog, Record Labels