Prince fans everywhere are in mourning once again after it was announced that the star’s Estate had sold the controlling stake in the late musician’s rights.
According to the Minneapolis Star Tribune, three of Prince’s six siblings have each agreed to sell their stake of the artist’s name, likeness and publishing in the Estate to independent music publisher and talent management company Primary Wave.
Last month, Primary Wave bought 100% of Omarr Baker’s interest in the Estate. Baker is Prince’s youngest sibling. The company already owns 90% of Tyka Nelson’s stake and 100% of Alfred Jackson’s interest. Jackson is now deceased.
Prince’s oldest three siblings – Sharon, Norrine, and John Nelson, told the publication that they would not be selling their state’s in the Estate.
“We’ll never sell out. We know the prize,” said Sharon, adding that her siblings “didn’t have the patience to wait.”
Prince fought for many years to win the rights to his publishing. In 2014, the star released a short statement affirming that his fight with Warner Bros. had come to an end.
“A brand-new studio album is on the way and both Warner Bros. Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship,” he said in a statement at the time.
Speaking to Entertainment Weekly that same year, Prince said, “It’s just a business relationship, clean and transparent. And I got my stuff back.”
He also didn’t hold back his thoughts about the way major labels were operating at that time.
“They’re outmoded. Why do they get to take your work and take a piece of that? What are they bringing to the table? I’m not mad. They’re not bad people. I’ve known some of them for more than half my life. But the system is old and it doesn’t work anymore. It’s the past.”
The Nelson’s are far from impressed with their younger siblings for taking the check.
“There’s not much anyone can do about family members who sell out for the dollar. That’s their right,” said New York lawyer L. Londell McMillan, who represents the Nelsons. McMillan is also the owner of The Source magazine.
Primary Wave has remained silent.
Originally posted 2021-08-02 11:51:48.
