$ 90 million.
It was for this sum that the musical catalog of soul legend James Brown was sold to a distribution and management company, Primary Wave.
According to the
New York Times
, the redemption also concerns the use of the image of the star as well as that of his name.
This buyout puts an end to 15 years of conflict between the heirs of the "Godfather of Soul", who were left with only his stage costumes and his material possessions at his death in 2006, while most of his fortune was due. be invested in a fund to create scholarships for exceptional students in South Carolina and Georgia.
Not a first try
The money from the sale should therefore allow the creation of this exchange and the CEO of Primary Wave, Larry Mestel, has pledged to donate a portion of the profits from all the next contracts signed thanks to the music of James Brown. for this fund. “The James Brown Estate and the associated trust are very proud and excited to be working with Larry Mestel and Primary Wave. We are confident that our choice of professionals to take James Brown's legacy to the next level is going to prove to be one of the most successful events in Mr. Brown's long history in show business, ”said Russell Bauknight, one of the heritage managers of James Brown, in a statement relayed by
Rolling Stone
.
Primary Wave is not at its first attempt in the music industry since the company has already invested by signing very juicy contracts with Stevie Nicks, Paul Anka, or the heirs of Whitney Houston and Prince.
People
Prince's heirs won't get a dime from the singer's heritage (for now)
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