UPDATE (10/27/16): According to Billboard, estate advisor L. Londell McMillan has “no knowledge of any discussions” regarding JAY Z and that “those responsible for the assets are not in discussions with anyone regarding a sale.” With that said, McMillan did say that offers to license the music are on the table.
It’s only been about 6 months since the untimely passing of legendary artist/musician Prince. Since then, many of the reports on his legacy have since turned to the value of his brand; this has included his Paisley Park estate (which has been cleared to become a museum), various items owned by the Purple Rain creator and his music — both his past releases and a vault’s worth of unreleased gems found post-passing.
Enter Jay Z. Reports are now saying that the Hip-Hop mogul is looking to obtain ownership of Prince’s unreleased music. He’s met with Prince’s sister, Tyka Nelson, as well as her husband (Maurice Phillips, above) in New York “several weeks ago” regarding the trove — and he’s allegedly made an offer of $40 million to get the negotiations going. It should also be noted that, prior to Prince’s death, TIDAL was granted exclusivity to his classic catalog…this should mean an easy score for JAY Z, right?
Not necessarily. While Tyka is Prince’s only full sibling, there are other half brothers and sisters who have to sign-off on any of these deals…in addition, there are currently other “relatives” entering into the legal battle of who can claim to be heirs of Prince’s estate (said to be worth $300 million). Here’s an example, as seen in Forbes:
The battle pits Prince’s six recognized heirs on one side against the daughter and granddaughter of Prince’s late “brother,” Duane J. Nelson, Sr. Why “brother” in quote marks? Because this legal battle – which is just getting started – comes down to what “brother” really means. More specifically, how many different ways can you determine a parent-child relationship?
Obviously, other (and possibly larger) pockets out there could be looking to raise that bid for ownership as well. Which means that — as of right now — Prince’s unreleased music is still any man’s game to win.
Both sides have yet to comment on the matter.
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