Mo money, mo money is in store for P. Diddy and many others. Several major record labels have been ordered to return nearly 50 million dollars in unpaid royalties to such artists as P. Diddy, Gloria Estefan, Dave Matthews and many others. Ending a two year investigation by the New York State Attorney’s office, it was revealed that many artists were not being paid because record companies lost contact with the artist or stopped making payments. The participating companies are SONY Music Entertainment, EMI, Warner Music Group, Universal Music, BMG Music and the Harry Fox Agency. No word has been said about how much Diddy will receive from the settlement.
Could Jay-Z be looking to expand on his hot spot the 40/40 Club? According to James Buslik, a real estate broker, Jay-Z is looking to add 2,000 square feet to the ground floor lounge area and 3,000 square feet to the mezzanine level to increase the private rooms. By the fall the club is expected to be 11,000 square feet according to the NY Post. “Because the club’s hours are quite opposite those of the office tenants, they have been compatible with the building which has an address of 1115 Broadway,” said Buslik.
