Nashville’s EverGreen Copyright just acquired the music catalog of MC Hammer from the trustee of the fallen rapper's bankruptcy estate for $2.7 million. Included in the deal are hits like "U Can't Touch This," "Too Legit To Quit," "Pray," "Turn This Mutha Out."
Hammer filed for bankruptcy protection in 1996, with debts in excess of $14 million, despite raking in over $33 million in 1991. Among of Hammer’s assets were a lavish mansion valued between $12 and $20 million dollars, 17 race cars, a Boeing 727, a Kentucky Derby race horse and a monthly payroll of over $500,000.
"We made tremendous progress in only six months," said co-CEO Schulhof said. "The MC Hammer catalog brings some of the best selling and most popular rap songs of all time to Evergreen's catalog." And also the lamest.
In related news, Vanilla Ice's is asking $2. o7 for his catalog, which includes "Ice, ice Baby" and...um...that's about all.
Allhiphop.com: MC Hammer's Music Catalog Sold For $2.7 Million