Wiz Khalifa Sues Former Record Label and Manager to Get Out of 360 Deal
A few weeks ago, Chance the Rapper spoke to Zane Lowe about the dangers of signing a 360 deal, saying, "I don’t agree with the way labels are set up. I don’t agree that anybody should sign 360 deals or sign away their publishing or take most of the infrastructure that’s included in a formal deal." Chance's foresight is Wiz Khalifa's hindsight, as Variety is reporting that Khalifa is suing his former manager, Benjy Grinberg, and label, Rostrum Records, to end their 360 agreement.
While Wiz dropped Grinberg and Rostrom as his managers in 2014, his lawsuit contends that both induced him to sign to the 360 deal despite the option not being in his greatest self interest. “An artist’s most trusted advisor is his or her personal manager. Generally, nothing good comes out when the manager decides to go into business against his artist. Unfortunately, that is the case here,” Alex Weingarten, Khalifa’s attorney at Venable LLP, said.
Khalifa is looking for compensatory damages upward of $1 million dollars, punitive damages and attorney’s fees. Grinberg said, in a statement, that he was “very disappointed and surprised by today’s news. To witness an artist turn on you after supporting them for a number of years is very disheartening. This is an egregious lawsuit filled with inaccuracies, yet unfortunately people sometimes resort to these practices as a way of conducting business.”
The lawsuit notes that Khalifa signed to Grinberg and Rostrom in 2004, at the age of 16, and that in signing the deal, the rapper became exclusive to Rostrom, who would share in the income made off of touring, merchandise and as a songwriter. Wiz's chief complaint is that Grinberg failed to disclose alternative agreements, instead tying Wiz to a deal that “reached for more than a decade into virtually every aspect” of his professional life.
Visit Variety for additional details.
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