Fashion may rock but it doesn't seem to be able to pay. The event, Fashion Rocks, which was held at the Barclays Center in Brooklyn and broadcast via CBS, ended up being a bust and now both the venue and the network are suing producer Three Lions Entertainment regarding unpaid dues.
Several weeks ago CBS brought suit against Three Lions claiming that it was owed $2.45 million contractually for its services with regard to the September 9 event. CBS forwarded $500,000 for use of trademarks related to the National Academy of Recording Arts and Sciences, which was to be repaid as part of the $2.45 million. The Barclays Center claims it is owed $1.4 million-it was owed a total of $2 million but comped $600,000 thanks to ticket sales to the event.
The most telling thing is that Three Lions hasn't disputed any of the charges but rather informed the two parties that the company simply doesn't have the money to pay them off at the moment. According the The Hollywood Reporter, the Barclays Center received an e-mail from a representative informing them that Three Lions was in the process of being liquidated.
More damning, and interesting, is CBS' allegations that the Three Lions planned the scenario very specifically. One of the individuals behind Three Lions is Joel Katz, an attorney who also represents the NARAS. The network claims he had knowledge that by having CBS front the money for trademark issues, he was simultaneously saving his own company cash while ensuring his client still got paid.
CBS was a tad more aggressive in its attack, calling Katz "cowardly to the extreme." Of course, at least Barclays Center managed to sell its tickets but CBS saw a dismal return in viewership for its investment. Only 2.4 million tuned in, according to Billboard, less than half who watched the last installment during 2008. It's still signed on to air a "Movies Rock" special during December although the site for the event is eerily quiet.
Stay tuned.
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