ESTATE OF CONFUSION: MCMILLAN AND KOPPELMAN OUT AS PRINCE REPS

L. Londell McMillan and Charles Koppelman are out as representatives of the Prince estate. With rights issues over publishing and Prince’s recordings settled, the question remains as to how the estate will be shared among the six often-contentious heirs?

The heirs have formed two camps, according to a Wall Street Journal report. McMillan is a business adviser with Prince’s half-siblings Sharon Nelson, Alfred Jackson, John Nelson and Norrine Nelson. CNN political commentator Van Jones represents Prince’s younger sister Tyka Nelson and half-brother Omarr Baker.

HITS hears that Shot Tower Capital founder David Dunn, an investment banker who has worked with the estate of Michael Jackson, has been brought in as an adviser.

The estate’s value has been estimated at roughly $200 million and the six heirs are looking at a potentially significant tax bill this year.

The story is still unfolding. Stay tuned.