Two of the most successful rap stars of their time are in a legal battle with embattled Hollywood producer Harvey Weinstein. Jay-Z and Eminem have both produced high profiled projects for his company. Both rappers claim they are owed unpaid royalties by The Weinstein Company, which just filed for bankruptcy. Both men claim they are owed amounts in the six figures.
For Eminem, the two parties worked on the 2015 film “Southpaw” where, according to the performer, he agreed to produce the movie’s soundtrack and recorded a song for the same project. Allegedly, the company has yet to pay him $352,000. As recently as this past October, Eminem was still trying to claim his payment. As for Jay-Z, he claims he has yet to be paid for his Kalief Browder and Trayvon Martin films, both of which were produced by The Weinstein Company. The Weinstein Company claims that it does not owe Jay-Z anything for the Browder film but did not make any mention of the Trayvon Martin film in its bankruptcy documents. Regardless, he is seeking at least $480,000, although he claims that number might be even higher, saying, “TWC hasn’t been forthcoming with its accounting.”
This might get messy as TWC’s financial troubles intensify. According to Deadline the company owes money to thousands of people, including “David Bowie, Michael Bay, Malia Obama, Boris Becker, Ryan Coogler, Daniel Radcliffe, Robert De Niro and Darlene Love.” The company also owes money to numerous corporations such as Netflix, Amazon, CBS, NBC, and ABC. As Deadline continued, “Other creditors are less boldfaced but still eye-catching, including the film and television academies, the New York Fire Department and the Los Angeles Police Department. One of Harvey Weinstein’s accusers, the model-turned-actress Zoe Brock, is listed, as is YouTuber Casey Niestat.”
Harvey Weinstein’s financial woes may soon be for naught as Lantern Asset Management, a Dallas based company, has made a bid for The Weinstein Company’s debt. They have put forth a $450 million offer, which includes $310 million in cash to provide instant relief. Time will tell where this case will go; however, it’s clear that The Weinstein Company’s legal issues will continue for some time.
