Irv Gotti stated that Oliver Chastan’s Iconoclast has purchased the master recordings of Murder Inc. during BET Weekend. The seasoned music businessman revealed a $300 million transaction in which he sold a 50% stake in his master recordings and received additional cash for a number of film and television projects.
Iconoclast, a company founded by influential figure in the music industry Oliver Chastan, made its debut in the market for acquiring music rights in February by acquiring the publishing and NIL rights of rock legend Robbie Robertson (name, image, and likeless).
Brilliant Concepts Darcell Lawrence, the company’s president, Nicki Lorenzo-Rabin, the CFO, and John “BJ” Bryant, the EVP, will continue to run the business and create content for BET/Paramount Global.
On August 9, the third season of the BET series Tales debuts. Tales is a scripted anthology series of “song stories” that weaves timeless and contemporary hip-hop songs into engrossing visual narratives from the lyrics of some of hip-hop’s greatest hits. Murder Inc., an unscripted documentary series that will serve as a five-part television series narrating the untold tale of the rise, unexpected fall, and redemption of Murder Inc.
After Gotti’s demonstrated success as a music executive at Def Jam Records, the company was established in 1999. Ja Rule, Ashanti, Lloyd, Charli Baltimore, and many other top hip-hop, soul, and R&B performers were all introduced by the record company.
Walter Jordan negotiated the agreement while Brian Robinson and Gary Stiffleman served as his legal counsel.
The post Iconoclast Secures Irv Gotti’s Murder Inc Masters for $300M appeared first on The Source.