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UMPG'S PURPLE COUP: PRINCE GOES TO JODY'S HOUSE

Jody Gerson's UMPG has won the publishing derby for the Prince deal, which will be a monumental addition to the pubco's holdings.

The announcement notes that UMPG will service and administer the Prince catalog and "work closely with Prince's estate to develop new creative outlets for his music." They will also add a room to their offices to hold all the money.

As we noted earlier, Charlie Koppelman is overseeing the pub deal on the Estate side, and it's not exactly a surprise that insiders confirm the size of this deal is gigantic, with some insiders saying it's worth as much as $30m. Prince sold some 100m records worldwide and enjoyed a dazzling string of chart-vaulting hits. Consider the number of Prince monsters (and smashes he wrote for others) that have become woven into the pop-cultural fabric since the Purple One first broke into the mainstream. Now think about the capacious vault of unreleased material stretching back four decades, which will give us new Prince albums for years to come. Now start counting. 

The superstar, who earned seven Grammys, a Golden Globe, an Oscar and a Rock and Roll Hall of Fame induction during his mind-blowing career, prompted a tsunami of catalog sales with his death earlier this year. A remastered, deluxe Purple Rain is due out in 2017 via NPG/Warner Bros., as well as a new greatest-hits set, Prince 4Ever, with a previously unreleased track; these will undoubtedly prompt the next big windfall.

Prince previously had an admin-only deal through UMPG from 2001-2014.

As of now, Prince's catalog is available to stream only via Tidal. Will this change? Stay tuned.

“To state the obvious," Gerson told us, "it is an absolute honor to be entrusted with this responsibility, not only because these works are timeless genius, but especially since this marks a return of Prince’s music to its prior home right here at UMPG.”

Noted UMG topper Lucian Grainge, "We are looking forward to continuing Prince’s legacy and ensuring that generations to come will know his unique brilliance. I congratulate Jody and her team on this landmark deal. Since joining UMPG as Chairman and CEO in 2015, Jody has done a remarkable job at developing and signing some of the most important songwriters and recording artists in contemporary music highlighted by the addition of Prince’s incredible catalog of work."

Bremer Trust, the court-appointed temporary special administrator of the Prince Rogers Nelson Estate, tapped Koppelman, Chairman and CEO of CAK Entertainment Inc., and L. Londell McMillan, Chairman and CEO of The NorthStar Enterprises Worldwide, to handle business. A joint statement from the pair reads, "We are pleased that UMPG shall once again administer Prince's music publishing worldwide and assist the estate by giving Prince’s iconic music catalog the proper care and support it deserves. With this major agreement, the estate maintains ownership of Prince’s music, and now legions of fans from around the world will have even greater opportunities to continue to delight in his incomparable songwriting and musical expression.”

Rumors that Jody is buying herself a Little Red Corvette couldn't be confirmed at presstime, though Charlie is already wearing a raspberry beret.

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