Lil Wayne Has Become the Sole Owner of Young Money
Lil Wayne's Tha Carter V is officially dropping "this fall" amid reports that Weezy is now the sole owner of Young Money. The legend revealed this and more to Billboard in a lengthy new profile published today (Sept. 13).
The article details the terms of Weezy's settlement with Cash Money Records, with whom he waged a three-year legal battle over outstanding advances and the rights to his catalog. Wayne settled on June 7 for an undisclosed sum. As a result of the agreement, Billboard reports, Young Money Entertainment transitioned from a 51-49 joint partnership with Cash Money to Tunechi owning his imprint outright.
In the meantime, Wayne's been working on his long-awaited followup to 2011's Tha Carter IV at a home studio in Miami. He previewed the outro, which features a sample of R&B singer Sampha's 2013 song "Indecision." The song recounts a suicide attempt by Weezy at the age of 12, which Wayne has always claimed was an accident.
"He just told me one day that he was ready to address it now," Young Money's President Mack Maine said. "Just being an adult, reaching a level of maturity and comfort where it’s like, 'I want to talk about this because I know a lot of people out here might be going through that.'"
The rest of the album is still "in flux," according to Billboard. Young Money tweeted new cover art for the project yesterday (Sept. 12). It was previously reported that Wayne's longtime collaborator Mannie Fresh contributed production.
Elsewhere in the story, Wayne discusses his health struggles, skateboarding habits and some interesting anecdotes—like the fact that he didn't realize he was supposed to prepare a speech as the best man at 2 Chainz's wedding.
You can read the entire piece over at Billboard.
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