Warner Music Group, has made a $25 million bid for ownership of Death Row Records‘ music related assets, including the rights to music recordings, videos, master copies of recordings, merchandising rights and inventory.
Death Row Records, founded by Dr. Dre and Marion "Suge" Knight in 1991, once home to Tupac and Snoop Dogg, filed for Chapter 11 bankruptcy in April of 2006, listing debts of as much as $137.4 million and $4.4 million in assets.
WMG is the highest bidder. If no bidders top Warner‘s offer of $25 million, then the assets will be sold through a court run auction.
WMG is the third largest record label in the world, and has a large number of labels and divisions, including Warner Chappell, a publishing company which already manages some of Death Row‘s songs, Atlantic Records, Bad Boy Records and Elektra Records. Death Row has sold nearly 50 million units worldwide, and generated close to $750 million in revenue.