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Old 07-14-2003, 08:16 AM
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The Times has a 2000 word correction today basically saying that one of its stories was total garbage.

In a profile of Mr. [Steven] Gottlieb last Monday, The New York Times reported incorrectly that Mr. Gottlieb had defaulted on a $23.5 million loan and that as a result, in February he had lost control of his company, officially called TeeVee Toons Inc., to Prudential.

In fact Mr. Gottlieb was never personally responsible for the defaulted loan and remains in full control of his company. Even if Prudential were to prevail in the dispute, [...]Prudential has no claim to TVT Records itself and therefore would not be in a position to sell the company, as the article reported.

The article also cast a negative light on Mr. Gottlieb's history of involvement in lawsuits, describing him as litigious — a conclusion that is not a fair reading of the legal cases.

It also referred inaccurately to his relationships with certain prominent performing artists, and several important aspects of his recent courtroom victory in which a jury awarded him $132 million in a contract dispute with the Island Def Jam Music Group and its chairman and chief executive, Lyor Cohen. [...]

Beyond the inaccuracies arising from the article's mistaken premises, there were also several other factual errors, which are corrected today in an editors' note on Page A2. [...]

In portraying Mr. Gottlieb as "litigious," the article presented comments from industry figures whose past adversarial relationships with Mr. Gottlieb or partisanship in his dispute with Island Def Jam should have been more fully disclosed.[...]

One lawsuit against Mr. Gottlieb over disputed legal fees was cited in the article in support of an assertion that Mr. Gottlieb has had trouble getting law firms to represent him more than once. But neither the circumstances surrounding that lawsuit nor Mr. Gottlieb's repeated dealings with his current law firm, Akin Gump, support that assertion.[...]

Mr. Gottlieb has never been involved as an adversary in contract litigation against the artists Snoop Dogg or Nine Inch Nails, as the article suggested, although each of those artists has been a co-defendant in lawsuits filed against Mr. Gottlieb.

The article also referred incorrectly to other aspects of Mr. Gottlieb's business relationships with several performing artists, including Snoop Dogg. [...]

Mr. Gottlieb's company has never canceled its contractual relationship with a group called Cash Money Click, which signed with TVT Records in 1994. Although one member of that three-man group, the rap artist Ja Rule, left and now records for Def Jam, the group's two remaining performers are still under contract to TVT Records.

Finally, the article included a number of misleading or incomplete references to the Island Def Jam lawsuit and its consequences for Mr. Gottlieb, who won the case after a two-part jury trial that ended in early May [...]

The lawsuit centered on an aborted plan by TVT Records and Def Jam to create a "reunion" album, on the TVT Records label, featuring the two remaining Cash Money Click members along with Ja Rule, who is under contract to Def Jam. The article reported that the profit-sharing agreement for the deal between TVT Records and Def Jam was never signed, and misstated the chronology of certain events leading up to the lawsuit.
Other than that, the original article was spot-on.
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