LAURYN HILL LAUNCHES NEW LABEL WITH SONY & ADDRESSES FINANCIAL TROUBLES

Lauryn Hill has taken to her blog to announce she has signed a new record deal, and hints that former contracts with music label executives are to blame for her financial woes.

The former Fugees star is currently facing a stint behind bars after pleading guilty to charges of failing to file her tax returns between 2005 and 2007.


Now, the reclusive singer has gone online to confirm reports she has signed a new record deal, and suggests bad business deals and "parasitic" record label contracts left her in financial difficulty, despite her huge success.

She writes,

"It has been reported that I signed a new record deal, and that I did this to pay taxes. Yes, I have recently entered into an agreement with Sony Worldwide Entertainment, to launch a new label, on which my new music will be released. And yes, I am working on new music.
"I've been fighting for existential and economic freedom, which means the freedom to create and live without someone threatening, controlling, and/or manipulating the art and the artist, by tying the purse strings. It took years for me to get out of the 'parasitic' dynamic of my youth, and into a deal that better reflects my true contribution as an artist, and (purportedly) gives me the control necessary to create a paradigm suitable for my needs.
"The nature of my new business venture, as well as the dollar amount reported, was inaccurate, only a portion of the overall deal. Keep in mind, my past recordings have sold over 50,000,000 units worldwide, earning the label a tremendous amount of money (a fraction of which actually came to me).
"Only a completely complicated set of traps, manipulations, and inequitable business arrangements could put someone who has accomplished the things that I have, financially in need of anything."