Damon Dash's production company sold at a Chapter 7 bankruptcy auction for $100. Ongoing lawsuits tanked the valuation, and filmmakers claim Dash charged fees to distribute their work through his company, then kept all revenue from platforms like Tubi and Amazon.
Damon Dash's company, his production company, just auctioned— was auctioned off in this Chapter 7 for $100. Somebody bought it for $100. Did you hear about that, Chad?
Yeah, I did. That, that— I mean, talk about a fall from glory. It hurts to hear this happening, and it's happening in Florida as well. Um, so the trustee auctioned it off, $100.
Didn't—
wasn't Mason Cameron gonna give them like $100,000, or what was the number they were gonna Yes, man. Ego and pride just get in the way of things. Like, come on, that's such a shame.
How did the trustee value it at $100 is the question. Like, how do they come up with these, these valuations?
Well, well, you, you auction it off actually. So it actually, it's a public auction and if nobody bids and somebody will take it for a de minimis amount, which is $100. I assume the reason it went for that as well, if you remember, there, there were lawsuits not only against Dame Dash but his company as well. So that, that would obviously deplete the value because you're going to buy the company and you'll have to defend these lawsuits to, to actually be able to use any of the assets that the company had.
When it comes to Dame Dash, the filmmakers told me personally that he would basically take their films give them— charge them fees to get their films brokered, put them under his quote-unquote production company, and then broker them to like Tubi and Amazon and all that and keep the money. He wouldn't give them nothing.
Wow, that's terrible.
Yeah. Now this is somebody that claims that they're for the culture.
Yeah. And artists, you know, artists always think about the artistry, and that's why they get taken advantage of so much, right? They're worried about the movie, the painting. Even athletes are worried about their athleticism, whatever sport that they're playing, that they try to focus on that. And then people around them just always, always target them. And then you see, you see things like that happen. That's, that's terrible.
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