Report: Young Money Entertainment Reportedly Going Bankrupt

[QamYasharahla]

Saw this the other day and decided to post it due to the other rumors regarding Wayne's alleged tax issues. Original source is Mediafakeout, but there might be some truth to this IMO.

Young Money Entertainment may soon be no more, an internet rumor claims.

This week, reports emerged that the recording company — which has acts like Drake and Nicki Minaj — has fallen into a financial free-fall and will be seeking bankruptcy protection.

The rumor came via Mediafakeout, which cited Young Money executives.

“Mediafakeout.com just got wind of a BLOCKBUSTER RUMOR – people VERY SENIOR in Young Money are saying that the label may be going BANKRUPT. We’re told that the label, and it’s head Lil Wayne are coming under EXTREME FINANCIAL DISTRESS – mostly because of lawsuits and the IRS.”

The report went on to say that Lil Wayne is trying to find a way to turn things around financially for Young Money, but that it might not be enough. If the company goes belly up, it means that talent like Drake and Tyga would have their contracts torn up and allow them to go to the highest bidder.

The report noted, “Weezy is the HOMIE and so is YMCMB so we really hope they can turn things around. But according to our snitch, if they don’t work QUICKLY – they may have to file for BANKRUPTCY PROTECTION and liquidate their assets. And the companies biggest assets, Drake, Nicki, and Tyga’s contracts.”

Young Money Entertainment has seen some changes at the top in the last few years. Lil Wayne stepped down as the label’s president in 2007, giving the position to Cortez Bryant. But within two years there was another change, and Mack Maine took over as president.

The label has seen quite a bit of success, including a number of top 10 hits. Young Money has also been quite active recently, releasing a compilation back in March titled Young Money: Rise of an Empire.

Officials from Young Money Entertainment have not responded to the reports of the label’s bankruptcy troubles.

Read more at http://www.inquisitr.com/1592914/yo...-be-freed-from-contracts/#zbORvf2g54TDGFeR.99

 

[Dont@Me]

Hm... This could actually be a good thing

 

[Darealtwo1]

We ain't broke I paying my other lovers, thugga and quan. The rest can get some allowance when they come back to daddy again Drizzy wanna play games and give out 3 free records without telling nobody last time that shyt happened I made them take that 0-100 shyt off and put it on itunes Tyga wanna play games see if that nikka ever gets a release date Right now its CM/YM/RG/YSL/RHQ

 

[CELL]

:jaywow:

 

[Mandarin Duck]

Saw this the other day and decided to post it due to the other rumors regarding Wayne's alleged tax issues. Original source is Mediafakeout, but there might be some truth to this IMO.

Stopped reading there.

 

[QamYasharahla]

Stopped reading there.

Well, let's do some math. Wayne allegedly having issues with the IRS unrelated to this source, Tyga and other artists trying to leave YMCMB, only album released this year flopping, music industry in the toilet in general, Baby probably having his hands in the cookie jar like usual etc. etc.....it's very likely this rumor has some legs to it. Not too many Black labels survive.

 

[Sampson]

 

[Real N Quotes]

 

[Pop123]

 

[Freedman]

 

[QamYasharahla]

Yeah because talking about the possible bankruptcy of a record label is so female-like. Do you clowns even think before you post?

 

[tremonthustler1]

unless Republic goes belly up (or even Ca$h Money for that matter), nonstory.

 

[Deaf2twothirds]

Not a big deal for them. YMCB can clear the IRS debt with a blood sacrifice.

 

[Detroit Wave]

 

[Chief Queef]

I'm no accountant but Forbes estimated Birdmans worth in 2014 at 160 million. Hes a ceo of the label, how can he not be sinking money in to his company of its bankrupt?