Linkin Park Demands Share Float Cash from Warner



Linkin Park has demanded a $60m payment and a 50:50 split of future profits as part of a new deal with Warner

Linkin Park dispute with its record company Warner Music still continuing. The rock band said in a statement "The new owners of Warner Music Group will be reaping a windfall of $1.4bn [740m] from their $2.6bn purchase a mere 18 months ago if their planned initial public offering moves forward. It means Linkin Park, their biggest act, will get nothing."

Further the band claimed that only $7m of the $750m proceeds of the IPO had been earmarked for corporate purposes. The investment team led by Edgar Bronfman Jr., even worse, has since cut $250m in costs, reducing the workforce by and its roster of artists by about Thus, those points are all obviously to Linkin Park disadvantage.

And so, the band's management, the Firm, is seeking a $60m payment and a 50:50 split of future profits as part of a new deal with Warner.

© AceShowbiz.com


MORE FROM NEWS

Leave a Comment

Required fields are marked with *

   

TODAY'S HEADLINES

  1. Blake Shelton and Gwen Stefani 'Torn Apart' by Her 'Flirtation' With 'The Voice' Contestant
  2. Brad Pitt Is Ready to Mend His Relationship With Angelina Jolie for the Sake of Their Kids
  3. Pregnant Beyonce Is 'in Hiding': She's Ballooned So Much She Doesn't Want Her Fans to See!
  4. Cher's 'Serious Family Issue' Forces Her to Drop Out of Lifetime's Flint Water Crisis Movie
  5. Kris Jenner's 'Desperate to Hook Up' With O.J. Simpson. What About Toy Boy Corey Gamble?
  6. Drake Reportedly Has 'Weed Overdose'
  7. Kanye West Is Spoiling Kim Kardashian With Jewelries, but She 'Won't Wear Any of It'
  8. Kris Jenner and Corey Gamble Break Up
  9. Ben Affleck and Jennifer Garner Exchange Sweet Gaze While Leaving Church Amid Reconciliation Rumors
  10. T.I. 'Begged' Tiny to Sleep Together Again Amid Reports They Reconcile

CELEBS PHOTO