Talks Stalled in Time Warner Bid to Cut Ties to Interscope : Music: Sources say the media giant backed out of a proposed deal in which the rap label would buy back its 50% interest.

August 21, 1995|CHUCK PHILIPS | TIMES STAFF WRITER

"The notion that the chairman of the world's biggest record company would blow into town on a corporate jet simply to chat with Suge Knight about lyrics is ludicrous," said Death Row Records attorney David Kenner, who plans to take depositions from Fuchs and Time Warner Chairman Gerald Levin regarding the matter before Labor Day. "The reason that Michael Fuchs flew into L.A. and sat there waiting in secret for five hours was to talk about business and to get an edge up on the Interscope negotiations."

Despite disagreement on what brought Fuchs to Los Angeles, sources in both camps agree that Fuchs was back in New York on Aug. 10 to attend a scheduled meeting with Field, at which Field confronted him about his attempt to meet privately with Knight.

According to attorneys close to the negotiations, Fuchs downplayed his trip to Warwick's house and then told Field he had decided to "renege" on the proposed Interscope deal. After a heated discussion, a furious Field left the meeting, sources said.

A Time Warner spokesman disputed Interscope's account of the meeting, claiming that although a number of key points in the deal had been addressed before Aug. 10, no date had been arranged to sign the agreement, which Time Warner claims still had not been completed. The spokesman said Fuchs told Field he "simply changed his mind."

Prev | 1 | 2

FEATURED