The battle over Prince’s $156 million estate ends after 6 years

fight over PrinceThe $156 million estate finally expired six years after the music legend’s death.

A Minnesota judge on Monday divided cash, music rights and other assets belonging to the late icon equally between two holding companies — Prince Legacy LLC, controlled by a group of three half-brothers and their advisors, and Prince Oat Holdings LLC, controlled by three other brothers. non-siblings and music publishing company Primary Wave, according to people.

Prince, who died of a fentanyl overdose in 2016, He did not write a will His half-brothers were legal heirs, because there were no children and a husband. According to Billboard.

L. Londell McMillan, one of two advisors who control an “undisclosed stake” in the estate and have a partnership with Prince Legacy LLC, has suggested that the settlement will open the door to a wave of Prince-branded projects, including at his famous Paisley Park home outside Minneapolis. .

“I have represented Prince for over 13 years and have led innovation to reform the music industry – and we hope to do the same with his great assets and catalog, from his music, movie content, exhibitions, merchandise and Paisly Park [sic] events, branded products and more,” Macmillan told Billboard in an email. “It’s a very historic and exciting time. The prince is almost free to rest now.”

Prince was known to have tight control over his music and his image during his lifetime.

Primary Wave said in a statement to Billboard that the company is “extremely pleased” that the property’s closure is “now over.”

A representative of the publisher said, “Prince was a creative star and this transfer outside the jurisdiction of the court puts in place a professional and skilled management.”

“When we announced our acquisition of additional prospect interests in the property last year, bringing our ownership interest to 50%, our goal was to protect and grow Prince’s unparalleled legacy,” said Primary Wave. “With the real estate asset distribution, we look forward to a strong and fruitful working relationship.”