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. .

Prince performs during the halftime show at the 2007 Super Bowl in Miami.

AP Photo/Alex Brandon via Associated Press

“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.

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.”

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