( 4UMF NEWS ) Lil Wayne Signs With Royalty Collection Company:
It’s arguable that 2014 was one of the slowest years for Hip Hop album releases but one of the most infamous for out-of-studio antics. One of last year’s biggest stories was Lil Wayne’s reported rift and subsequent separation from his longtime label, YMCMB and its boss, Birdman.
Now, the actions from that removal are starting to take place as Wayne reportedly signs with royalties collection company Kobalt to recoup what he believes is owed to him including unpaid royalties and record advances by his former imprint, according to AllHipHop.
According to Kobalt’s website, they use a “powerful tracking system” to “ensure all income is correctly accounted” for their clients and develop “detailed expectations from 3rd party performance data, Territory expectations from Kobalt’s pre-distribution health check, as well as from the client’s income data.” Current clients of the company include Busta Rhymes, Kid Cudi, Noah “40” Shebib, and DJ Premier world-renowned acts Ariana Grande, Bruno Mars, Sam Smith and Calvin Harris as most recent additions to the company’s roster.
Lil Wayne reportedly filed a lawsuit against against Young Money back in February. He had since dropped that lawsuit, according to a JasmineBRAND report, as the two camps came to a mutual understanding.
“On April 6th, Lil Wayne filed documents in the case stating he wishes to voluntarily dismiss the lawsuit against Cash Money,” the article says. “He dismissed the case ‘without prejudice’ meaning he could re-file but it appears the rapper and his mentor Birdman may have reached a truce.”