According to the LA Times, Island Def Jam boss Lyor Cohen may have to pay his $56m share of the $132m compensation due to independent record label TVT Records himself.
You will recall Cohen was held personally liable for initiating unfair business practices in a bid to stop TVT from releasing a Cash Money Click album which featured IDG artist Ja Rule – even though IDJ had agreed to such releases when Ja Rule moved from the independent to the major. Cohen himself is personally liable for nearly half of the $132m damages awarded to TVT – but most assumed Universal Music would pay his share. However an official statement from the Universal Music Group has now said it is too "premature" to say who will pay Cohen's share.
However one insider has suggested the statement was merely a bid to help Cohen's lawyers in their attempts to have the compensation figure reduced. Cohen's personal wealth is estimated at $29 million so it would seem impractical to fine him $56 million – but if the court assumed Universal would cough up then the higher figure is more realistic. Therefore by distancing themselves from Cohen's fine there is a higher chance of it to being reduced – so they have to pay less when they do eventually cough up on Lyor's behalf.
Said insider added "Vivendi wouldn't be seriously suggesting Cohen should pay up this close to when his contract is up for renewal."