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August 23, 2006 @ 1:17 pm
Irv Gotti and Murder Inc. Back With Universal
Under a new three-year deal, Universal will commit nearly $10 million to Gotti in an advance against future profits and payments to cover overhead, reports The New York Times. The agreement will also allow Gotti to buy ownership of Murder Inc.’s master recordings.
left Gotti has chosen to renew a relationship with Universal even though the company severed ties with him last year when he was faced with charges of using his rap label Murder Inc. to launder money for convicted drugpin Kenneth "Supreme" McGriff.
Though he was acquitted of all charges, Gotti’s label took a hit numbers-wise—albums released by label stars Ashanti and Ja Rule had dismal sales compared those in the label’s glory days.
However, Gotti remains optimistic about the new deal and the future of his label. “It feels exhilarating,” Gotti told The Times. “It’s like a rebirth. It feels like God put me through hell, showed me a lot of things, showed me who the good people and bad people are around me, and lined me up to do what I’m put here to do.”
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Article tags: Ashanti, Irv Gotti, Ja Rule, Murder Inc., Universal Records
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