AceShowbiz
 
T.I. Claims Label Raised Buyback Price from $3M to $52M in Lawsuit
Instagram/T.I.
Music

T.I. sues Cinq Music Group for allegedly inflating his catalog buyback price from $3M to $52M, breaking a 2017 deal for his Atlantic-era masters.

AceShowbiz - T.I. has initiated legal action against Cinq Music Group, accusing the label of reneging on a deal involving his music catalog. The rapper’s lawsuit centers on a 2017 agreement where Cinq purchased his Atlantic-era masters.

According to the complaint, T.I. agreed to the transaction because it included a buyback option, allowing him to repurchase his masters later. However, after exercising this option in 2024, the label allegedly demanded a dramatically inflated price.

The suit states, "Cinq regretted that it had agreed to the [option terms], and, therefore ... did everything it could to frustrate plaintiffs' efforts to complete the purchase." T.I. contends the original formula for calculating the buyback price should have resulted in a figure not exceeding $3 million.

Instead, Cinq reportedly sought nearly $52 million by altering the revenue calculation method. Specifically, the lawsuit claims the label included revenue from digital streaming and other sources that were not part of the original agreement.

This tactic, T.I. argues, artificially inflated the price to almost 20 times the agreed amount, causing a major financial dispute. The rapper is fighting to enforce the terms he believes were contractually guaranteed.

So far, Cinq Music Group has not issued a public response to the lawsuit. Atlantic Records is not implicated in the legal complaint.

This ongoing battle highlights the complexities artists face when navigating ownership rights and catalog deals in the music industry.

About This Article

AI-Assisted Content: This article was created with the assistance of artificial intelligence technology under human editorial oversight. Our editorial team reviews and verifies all AI-generated content for accuracy.

Sources: Information in this article may be aggregated from publicly available sources including press releases, news agencies, and entertainment industry sources. We provide attribution where applicable and strive to ensure factual accuracy.

Learn More: For details about our editorial standards and practices, visit our Editorial Standards page.

Contact: Questions or concerns? Email us at [email protected]

Follow AceShowbiz.com @ Google News

You can share this post!

You might also like
Related Posts