Lil Jon has dropped a multi-million dollar objection to the recent sale of music label TVT Records, after striking a deal with new owners The Orchard.TVT Records - to which Lil Jon was signed - was sold off to the digital music company for $6 million (£3 million) in June, just months after label bosses filed for bankruptcy in February.Lil Jon initially opposed the sale and mounted legal action against the move - but he has now withdrawn the objection and is a free agent after negotiating with The Orchard executives.Under the new deal, Lil Jon - real name Jonathan Smith - is not obligated to any more recordings as per his TVT contract, and he will be handed master recording rights to his forthcoming album, Crunk Rock. However, The Orchard will still retain his back catalogue, and label bosses will digitally release the albums.The star says, "I walked into The Orchard and came away with the sweet taste of freedom. Others talk, The Orchard does. I expect to do great things with them, and look forward to my future." His attorney Doug Davis adds, "Record companies today are taking more rights and a bigger piece of an artist's career without regard to the long term relationship with and financial health of their artists."The Orchard has spoken loud and clear about their commitment to doing right by artists and have set the foundation for a positive ongoing relationship with Lil Jon with this landmark release."
Lil Jon withdraws objections to TVT sale
Lil Jon has dropped a multi-million dollar objection to the recent sale of music label TVT Records, after striking a deal with new owners The Orchard.TVT Records - to which Lil Jon was signed - was sold off to the digital music company for $6 million (£3 million) in June, just months after label bosses filed for bankruptcy in February.Lil Jon initially opposed the sale and mounted legal action against the move - but he has now withdrawn the objection and is a free agent after negotiating with The Orchard executives.Under the new deal, Lil Jon - real name Jonathan Smith - is not obligated to any more recordings as per his TVT contract, and he will be handed master recording rights to his forthcoming album, Crunk Rock. However, The Orchard will still retain his back catalogue, and label bosses will digitally release the albums.The star says, "I walked into The Orchard and came away with the sweet taste of freedom. Others talk, The Orchard does. I expect to do great things with them, and look forward to my future." His attorney Doug Davis adds, "Record companies today are taking more rights and a bigger piece of an artist's career without regard to the long term relationship with and financial health of their artists."The Orchard has spoken loud and clear about their commitment to doing right by artists and have set the foundation for a positive ongoing relationship with Lil Jon with this landmark release."