Universal confirms deal for rights to Prince’s music catalog

It’s official: Prince is coming to Universal.Universal Music Group confirmed Thursday it has a deal with the Estate of Prince Rogers Nelson, as well as the late pop legend’s record label NPG Records, to exclusively license recorded music rights to the...

Universal confirms deal for rights to Prince’s music catalog

It’s official: Prince is coming to Universal.

Universal Music Group confirmed Thursday it has a deal with the Estate of Prince Rogers Nelson, as well as the late pop legend’s record label NPG Records, to exclusively license recorded music rights to the artist’s recordings and a library of 25 albums.

Terms of the deal weren’t disclosed. The estate has been valued at between $100 million and $300 million, before taxes, according to reports at the time of his death.

The Post reported the two were close to a deal on Wednesday.

The music giant will own three major licenses to enable it to capitalize on a huge resurgence in Prince’s music.

The recorded music deal includes rights for Prince’s vault of unreleased music.

According to a release, Universal may yet still win more rights to Prince’s music.

“Beginning next year UMG will obtain US rights to certain renowned Prince albums released from 1979 to 1995,” the release states, suggesting Universal will also win recordings currently housed by Warner Music Group.

Two advisors have been working with the Estate’s Bremer Trust to maximize revenue for the estate. They are Charles Koppelman, Chairman and CEO of CAK Entertainment and L.Londell McMillan, Chairman and CEO of The NorthStar Enterprises Worldwide.

Universal’s Bravado also won merchandising rights to Prince and is developing a range of products to honor the late singer. Universal’s music publishing also won rights to Prince’s songwriting.

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