https://www.okayplayer.com/music/james-brown-estate-ends-15-years-of-internal-disputes-with-90-million-sale.html

James Brown Estate Ends 15 Years of Internal Disputes with $90 Million Sale
MUSIC - 3 DAYS AGO

ZO
Zo is a staff writer at Okayplayer.


Primary Wave has acquired the music assets, publishing, and master income stream of James Brown in a massive estate sale, which includes the rights to the icon’s name and likeness.

At the time of his death in 2006, James Brown left behind a complicated set of instructions for the administrators of his catalog and estate. Save for a $2 million chunk reserved for his grandchildren, the majority of Brown’s estate was intended for the establishment of a scholarship fund for underserved children in South Carolina and Georgia. Over the last 15 years, Brown’s heirs, who were reportedly left a collection of his personal possessions and stage attire, have disputed the value of the icon’s estate and struggled to fund the aforementioned scholarship program.

But a recently approved acquisition of the estate should squash the internal disputes and provide ample allocations for the scholarship fund. According to The New York Times, Primary Wave, the New York-based company that recently struck deals with the estates of both Whitney Houston and Prince, has purchased the Brown estate for a reported $90 million. The sale turns over ownership of Brown’s music assets, publishing, and master income stream, as well as the rights to the icon’s name and likeness. Money from the sale will go towards funding Brown’s scholarship program “in perpetuity” and a provision of the deal will break off a “small percentage” of future deals on behalf of the estate for the scholarship program. The deal also covers a chunk of Brown’s real estate in South Carolina, where Primary Wave hopes to build a “Graceland-like” museum.

“James Brown was one of the greatest musical entertainers of all time, and one of the greatest legends of the music business,” said Larry Mestel, founder of Primary Wave. “That fits what we do like a glove.” Specific plans for Brown’s catalog have yet to be unveiled. However, Mestel seems committed to making Brown’s music and legacy accessible to a new generation of fans by way of Broadway musicals and/or TV and film projects.

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https://www.rollingstone.com/pro/news/prince-estate-primary-wave-rights-1205102/

Rolling Stone


JULY 30, 2021 4:31PM ET
Primary Wave Scores Significant Stake in Prince’s Estate
The firm has secured the stake in the late artist’s masters, publishing rights, name and likeness and Paisley Park

So many legacy artists getting in on these deals. Just heard announcement this am about Springsteen's catalogue deal for $550M.

I'm al little surprised at the valuation, I would have guessed higher given the recent demand.

Wonder what the relative size of a catalogue like James' would be though. He was crazy prolific but no telling how he dealt with rights over the years and thus how much his estate had rights to sell.


Imagine most valuable catalogue left is probably Stevie's?

This is How They Rob You: (or Michael Jackson Was Right)

https://medium.com/the-brothers/this-is-how-they-rob-you-or-michael-jackson-was-right-603ced1503e0

……………….,,
http://gravalicious.tumblr.com/archive

"If you're not loving someone, you're wasting your time." - Dennis Brown

I can understand licensing & access to the music but to sell off their publishing & masters is just basically what these artists were fighting their whole life to own & keep for themselves & their heirs (well maybe not Whitney), and now for the family to just sell it all like a grab bag is so sad.

Bruce Springsteen I'm surprised he even did this but maybe he don't care for his old music anymore (even though everytime I performs his own music he now has to pay someone else those royalties), maybe he doesn't like his children and don't care if they don't receive any money from his music when he's gone, maybe he has a limit on how long that company can own his catalog and then it reverts back to him, who knows?

This is the main reasons why so many people say the music industry is the shadiest of all businesses (rule #4080) cause they don't care about your health when you're around as long as you continue to make money for them while they continue to own your music.

https://tinyurl.com/y4ba6hog

---------
"We in here talking about later career Prince records
& your fool ass is cruising around in a time machine
trying to collect props for a couple of sociopathic degenerates" - s.blak

...his family was going to get hit with so much taxes up front (that could have been avoided if Prince had a will, etc.) that Prince's family obviously would have to sell a percentage of Prince's estate to cover that upfront tax hit after Prince's death.

I don't think this is that surprising for someone at the end of a long career. The headache to manage rights for an extensive catalogue might be something that no heir wants to take on. It also might allow the artist to directly support causes late in life.

A sale to an entity like Sony makes sense because they are paying over current value. The studio is planning on creating monetizing opportunities by incorporating the music into their properties.

It's far more about giving up legacy and control in exchange for the bag. It would take a looong time for Bruce's estate to make $550M.

ownership of publishing. It's not getting properly paid for and/or control of ones own destiny when it comes to their publishing.

Like someone said, if someone wants to pay a shit ton of money and I no longer have the headache of managing my publishing, it might be something an artist wants to do.


**********
"Everyone has a plan until you punch them in the face. Then they don't have a plan anymore." (c) Mike Tyson

"what's a leader if he isn't reluctant"

https://www.rollingstone.com/music/music-news/prince-estate-value-1285413/


JANUARY 15, 2022 11:54AM ET

Prince’s Estate Valued at $156 Million as Legal Battle Nears End
Six years after singer’s death, estate’s administrators and IRS reach agreement on value of Prince’s real estate holdings and recordings

By DANIEL KREPS


The six-year battle over Prince’s estate may finally be reaching its end following an agreement between parties that the late singer’s estate is worth $156 million.

According to the Star Tribune, Comerica Bank & Trust — the estate’s administrator — and the IRS revealed the valuation at a hearing Friday, a figure that encompasses both Prince’s real estate holdings and the value of his catalog and legendary vault of unreleased recordings.

The valuation was also agreed upon by lawyers of six of Prince’s heirs, two of whom have died during the lengthy estate battle that has languished in courts since his death in 2016; Prince did not have a will at the time of his death.


Prince Estate to Livestream 1987 New Year's Eve Show With Miles Davis
The valuation comes six months after three of Prince’s heirs (including the family of half-brother Alfred Jackson, an heir who died in 2019) reached deals with the independent music publisher and talent management company Primary Wave to sell their stakes in their brother’s estate, a deal that included a portion of Prince’s royalties from his masters, his writer’s share, name and likeness, and Paisley Park property; Prince’s three oldest heirs — including half-brother John Nelson, who died in September 2021, and two half-siblings in their 80s — opted not to partake in the agreement, which left Primary Wave with the single largest stake (but not a majority stake) in the Prince estate with 42 percent.


With a $156 million valuation in place — Comerica previously gave the estate an $82.3 million appraisal, while the IRS estimated it was worth $163.2 million in 2020 — the estate will be split among Primary Wave and the three oldest heirs (or their families) as soon as February. Prince’s lawyer L. Londell McMillan, who now represents the three oldest heirs, said at Friday’s hearing, “It has been a long six years.”

McMillan previously said after half of Prince’s heirs made the Primary Wave deal, “No matter what, we are going to fight to preserve the legacy of Prince. We would like to bring the purple back and actually do things the way Prince did,” while adding in a statement, “We will work with Primary Wave and any other party that holds interest in the estate.”

https://www.spin.com/2022/08/prince-heirs-settle-estate-dispute/

NEWS

Prince Heirs Settle Estate Dispute More Than Six Years After His Death
The artist’s six half-siblings have finally come to an agreement

Written By Jonathan Cohen
|
August 2, 2022
- 10:53 am


Richard E. Aaron / Contributor


Prince‘s heirs have finally kissed and made up. The late music legend’s family members and advisers have put to rest all remaining issues involving the disbursement of his $156 million in assets, according to court papers reviewed by SPIN.

Prince died in April 2016 at age 57 of a fentanyl overdose, without leaving a will. As such, and because he had no living children or a spouse, his six half-siblings were named heirs. Unfortunately, they could not come to an agreement on how to manage the estate moving forward and frequently found themselves in court. Three half-siblings sold their shares to Primary Wave, while three others kept their shares and retained longtime Prince advisor L. Londell McMillan and Charles Spicer to oversee them.

In January, the heirs and the Internal Revenue Service agreed on a final tax valuation of $156 million for the estate, and the following month, a Minnesota judge approved a proposed asset split between Primary Wave and the heirs. The parties have now created separate limited liability corporations to oversee their shares of the estate and as of yesterday (Aug. 1), Judge Kevin W. Eide has signed off on the agreement.

Throughout the dispute, the estate has managed to release a number of posthumous and archival Prince collections with different label partners, including 2021’s Welcome 2 America with Legacy. Warner Bros. has handled several deluxe back catalog reissues of classics such as Purple Rain, 1999, and Sign O’ the Times.