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Hip Hop Gossip /
News |
12/04/04
 Ludacris Sells Out
After four successful years and several multi-platinum releases, Ludacris has sold his Disturbin Tha Peace label to Island Def Jam for a reported $11 million dollars.
According to Daily News, Sony Music and Warner Music were competing against Def Jam in a bidding war to purchase the imprint. However, DTP's co-CEO's Ludacris and his manager Chaka Zulu opted to stay with Def Jam, the legendary label that successfully catapulted DTP's southern roster to national attention.
DTP, which includes Ludacris, Shawnna, I-20, Lil' Fate, Tity Boi and Dolla Boy, have released 7 albums and struck gold and platinum 5 times. Ludacris' first two LP's, 2000's Back For The First Time and 2001's Word Of Mouth both reached the triple platinum mark while his latest, 2003's Chicken & Beer sold roughly 2 million copies. Meanwhile, the crew's collective effort, Golden Grain hit gold in 2002 and Chingy's Jackpot sold 2.8 million copies last year.
DTP presently has distribution with several labels. While Ludacris and Shawnna are distributed by Island Def Jam, Chingy, I-20 and Lil Fate are handled by Capitol Records. Despite a successful debut, Chingy left the label earlier this year citing monetary conflicts for his departure.
Ludacris made his national debut on Def Jam South in 2000 with Back for the First Time featuring the hit single, "What's Your Fantasy". The offshoot label was started to tap into the then burgeoning southern market and was headed by the legendary rap icon, Scarface. |
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