AEG Archives - New Hip Hop News

Young Thug Is Reportedly Being Sued For Selling His Catalog Rights In 2021 While Under An Existing Contract

November 20, 2024 by newhiphopnews

Young Thug is reportedly being sued for singing two conflicting publishing deals by one of the music publishing companies, according to AllHipHop. Anschutz Entertainment Group (AEG), filed the suit, claiming that in 2021, Thugger signed a second deal to sell his catalog for $16 million with Kobalt Group — something he shouldn’t have been able to do, since AEG has owned the rights to the Atlanta rapper’s music since 2017.

According to AEG, the song rights included in the sale to Kobalt were supposed to serve as collateral for a $5.25 million loan to Thug and YSL Records. Thug’s repayment would come through the royalties generated by the songs and any live performances arranged by third-party promoters (i.e., not AEG). By 2019, AEG alleges, Thug had defaulted on the loan, and claims he misrepresented his ability to afford the payments in the first place. It’s not as simple as running a credit check.

When Thug sold the catalog in 2021, he supposedly made around $16 million for the sale, and made his repayment toward AEG even more difficult. AEG says that not only did Thug breach his contract in this way, but he also continued to book shows through third-party promoters without kicking up the profits. The promotion company wants the amount of the original loan, interest, and the royalties from the sold songs. While AEG put its 2022 lawsuit on hold for the duration of Young Thug’s racketeering trial, the trial’s recent conclusion has allowed AEG to move forward with discovery proceedings.

Young Thug Accused Of Netting $16 Million From Catalog Sale Without AEG’s Permission

November 18, 2024 by newhiphopnews

Young Thug may have only gotten out of jail two weeks ago, but he’s already dealing with drama from AEG. According to a new report from AllHipHop, the company accuses him of unlawfully selling off the copyright stakes to over 400 compositions in 2021 for $16 million. The copyrights were allegedly supposed to serve as collateral for an unpaid loan that Thug and YSL had taken out in exchange for exclusive global rights to promote his live shows.

The company allges they lent Thug $5.25 million in 2017 with the expectation that he would repay the borrowed sum with interest, while also sharing revenue from concerts featuring third-party promoters. AEG alleges that Thug defaulted on the loan and originally misrepresented his ability to pay it back. Now, AEG wants the original sum plus interest as well as any earnings Thug acquired from the sale of the copyrights.

Young Thug Performs During The Grammy Awards

February 10, 2019; Los Angeles, CA, USA; Young Thug performs with Camila. Cabello during the 61st Annual GRAMMY Awards on Feb. 10, 2019, at STAPLES Center in Los Angeles, Calif. Mandatory Credit: Robert Hanashiro-USA TODAY NETWORK via Imagn Images

Expectedly, the entire drama was stalled once authorities arrested Thug and members of his YSL collective in 2022. They booked them with a massive RICO indictment at the time. After spending two years behind bars, Thug accepted a plea deal which allows him his freedom on numerous conditions. They include a 15-year probation sentence. In the time since getting out, Thug’s met with up T.I., posted cryptically about Gunna, and more.

His attorney, Brian Steel, even had him FaceTime students at his Emory Law School class to discuss the YSL RICO case. “I think it’s very, very, very important to become lawyers,” the rapper told the students in a viral clip from the class. “Over any other thing. Lawyers and doctors were the two greatest things that were ever founded. You actually help people and I think that’s God’s work.”

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Young Thug’s Legal Battle With AEG Continues Amid Ongoing YSL RICO Trial

March 19, 2024 by newhiphopnews

Almost all of the news surrounding Young Thug in the past nearly two years has had to do with the YSL RICO indictment. The rap superstar’s label YSL was hit with a massive indictment in May of 2022 alleging gang activities amid a myriad of other crimes. Fans have followed the trial closely as it implicates numerous figures in rap music and has spawned headline news repeatedly. Last year, the second most famous among those indicted, Gunna, took a plea deal to escape trial. He was widely criticized for the move after it came to light he had to testify as a part of his release.

But that isn’t the only ongoing legal battle in Young Thug’s life. Despite his RICO trial still in full swing AEG is continuing with a $5 million lawsuit they filed accusing the rapper of breaching his contract. The RICO trial has presented a significant challenge for AEG’s civil court filings and it’s expected that the case could run into 2025. In the meantime, AEG is attempting to prove that YSL misrepresented their finances when signing a $5 million promotional deal in 2017. They claim that the label knowingly signed the deal without the net worth to eventually pay it back.

Young Thug Still Facing $5 Million AEG Lawsuit

EXCLUSIVE: AEG Continues $5M Legal Battle With Young Thug Despite His Ongoing RICO Trialhttps://t.co/ptIGCF8oDg

— allhiphopcom (@allhiphopcom) March 19, 2024

Numerous viral videos have made the rounds in recent weeks showing what the YSL RICO trial has turned into. One showed a heated argument between attorneys that needed to be interrupted by court security. Another showed one of the states witnesses confirming that he was so high on the stand he nearly fell asleep.

Yet another clip saw a witness erupting on the entire court room after repeatedly being asked nearly identical questions. The trial has already been through dozens of witnesses. Dozens more are expected to be called in the next few months. What do you think of AEG moving forward with their $5 million breach of contract lawsuit? Do you think they should wait until the conclusion of Young Thug’s ongoing RICO trial? Let us know in the comment section below.

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The post Young Thug’s Legal Battle With AEG Continues Amid Ongoing YSL RICO Trial appeared first on HotNewHipHop.

Young Thug Faces Second Lawsuit In Jail Sued For $6 Million

August 27, 2022 by newhiphopnews

Young Thug, born Jeffery Williams is facing another trial after being denied bond in his RICO case in Atlanta, Georgia. The 31-year-old rapper is being sued for $6 million by entertainment company AEG after claiming Thugger failed to honor an agreement made in 2017.

The new lawsuit alleges he took a $5 million advance for exclusive rights for his shows and AEG claims he breached the contract shortly thereafter. The trial is scheduled to start on October 24, 2023.

This news follows another lawsuit from A-1 Concert Entertainment alleging the “Go Crazy” artist failed to return a $150K deposit for performance he didt ,ake due to being incarcerated.

Young Thug and other members of his YSL record label have been in custody since May on a 56-count RICO indictment that includes charges of murder, robbery, witness intimidation, racketeering charges and more. He was denied bail and his trial is slated to begin on January 9, 2023.

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The post Young Thug Faces Second Lawsuit In Jail Sued For $6 Million appeared first on The Source.

Part Of O2 Arena’s Roof Was Blown Off By Storm Eunice In London

February 18, 2022 by newhiphopnews

A scheduled concert at London’s O2 Arena was canceled today as Atlantic storm Eunice battered much of Europe, tearing part of the roof off of the building with winds as high as 90 mph, according to Billboard. The parts of the roof that were removed are made of tent fabric, but Billboard was unable to confirm if they affected the arena floor.

Anschutz Entertainment Group, which leases and operates the arena, verified the report through a spokesperson, who said, “The affected areas have been cleared and The 02 will remain closed for the rest of the day. The safety of our visitors remains of paramount importance, and we will continue to assess the ongoing situation and act accordingly.”

Incidentally, the concert that was canceled was the second one that was nixed for this date; in January, the Fugees announced they’d canceled their entire reunion tour, set to engage the main 21,000-capacity arena over touring challenges stemming from COVID-19. Meanwhile, their replacements Punjabi music stars AP Dhillon and Gurinder Gill were set to play the 2,800-capacity Indigo venue, have rescheduled their own show for Tuesday, with all tickets remaining valid.

The next show scheduled for the O2 is British rapper Dave’s, on February 21 and 22. It’s not currently known whether it will be able to take place as scheduled, which would be a shame as Dave is coming off a victorious BRIT Awards that saw him win Best Hip-Hop/Grime/Rap Act and play a flamethrower guitar.

Concert Promoter AEG Will Require Proof Of COVID-19 Vaccination At All Its US Venues

August 12, 2021 by newhiphopnews

Would-be concertgoers had better get their shots, as Anschutz Entertainment Group (AEG), the second-largest concert promotion company in the US behind Live Nation, will be requiring proof of COVID-19 vaccination at all of its US venues beginning in October. AEG notably operates some of the biggest venues in the States, including Staples Center, Brooklyn Steel, and Webster Hall, and subsidiaries like GoldenVoice operate festivals including Coachella, Stagecoach, and upcoming fests like Lovers & Friends and Day N Vegas.

Up until now, and until the policy goes into effect, AEG has been allowing entry with either proof of vaccination or a negative COVID test within 72 hours of the event date. However, with new infections rising and the emergence of new variants of the novel coronavirus, including the Delta variant, AEG’s leadership wants to protect attendees — and the company’s bottom line — to ensure future events don’t get canceled or postponed as in 2020 when the initial COVID outbreak essentially shuttered the entertainment industry for months.

As AEG COO Jay Marciano explained in a statement:

“We have come to the conclusion that, as a market leader, it was up to us to take a real stand on vaccination status. Just a few weeks ago, we were optimistic about where our business, and country, were heading. The Delta variant, combined with vaccine hesitancy, is pushing us in the wrong direction again. We realize that some people might look at this as a dramatic step, but it’s the right one. We also are aware that there might be some initial pushback, but I’m confident and hopeful that, at the end of the day, we will be on the right side of history and doing what’s best for artists, fans, and live event workers. Our hope is that our pro-active stance encourages people to do the right thing and get vaccinated. We’ve already had to deliver bad news about JazzFest this week; I think everyone can agree that we don’t want concerts to go away again, and this is the best way to keep that from happening.”

In contrast, Live Nation has let artists set the tone, determining vaccination requirements for their own shows. With this move, it’s possible AEG will put pressure on its industry peers to take further steps to protect the public and prevent another potentially disastrous industry-wide shutdown.