Warner Music Group has reportedly put a $25 million bid to snatch up Death Row Records’ music catalog.
The label — which was once the home of rappers such as Tupac Shakur, Dr. Dre and Snoop Dogg — is being auctioned off to the highest bidder by court-appointed administrators, who must have controlled the label since mid-2006.
Warner is expected to end up with the catalog, as they are currently the highest bidder in Death Row’s bankruptcy proceedings.
The offer from Warner to purchase all music-related assets that belong to Death Row and Knight “will result in the highest or best collective recovery for the estates,” R. Todd Neilson, the Chapter 11 trustee of Death Row Records’ estate, said in court documents filed, according to the Associated Press.
Neilson said that due to significant “gaps” in the company’s financial and business records, sale of the company’s assets are favorable over a plan of reorganization.
In addition to the rights of Death Row’s music catalog, the sale would also include videos, master copies of recordings, merchandising rights and inventory.
The court is being asked to give final approval to the sale at a May 12 hearing, and any potential bidders should enter an offer by April 11.
Warner currently owns several other record labels including Atlantic, Bad Boy, Elektra, Rhino and Warner Bros. The company’s earnings for last year, which ended on September 30, were $3.385 billion.
Despite the offer, ownership of the catalog may be a difficult task, due in part to litigation by Dr. Dre, who claims he is owed royalty payments from his 1992 solo debut The Chronic, and Tupac Shakur’s mother Afeni, who claims rights to his unreleased music.