Quantcast

PRIMARY WAVE PARTYING LIKE IT'S 1999

Primary Wave Music confirmed on 7/30 that it had acquired additional interests in the Prince estate, making it the largest stakeholder in the estate. The company has also picked up an interest in the legendary artist’s released recordings and all unreleased music potentially awaiting development in the vault at Paisley Park.

Now, through the purchases of the so-called expectancy interests in the estate from two of Prince’s six heirs, Omarr Baker and the late Alfred Jackson, along with that already acquired from sister Tyka Nelson, Primary Wave is lined up to own about 42% and speak for 50% of the estate, according to The Wall Street Journal, which picked up on a story developed in the Minneapolis Star Tribune. Half-siblings Sharon, Norrine and John Nelson hold most of the remaining half.

Assets of the estate include stakes in Prince’s master-royalty income stream, writer’s share, name and likeness and Paisley Park, which is now a museum, studio and concert venue. The financial terms of Primary Wave’s deals with Prince’s heirs weren’t disclosed.

CEO Larry Mestel told WSJ that Primary Wave intends to work closely with Tyka Nelson and the remaining heirs to “tastefully and organically put large opportunities in place that Prince would feel proud of,” adding, “There’s a lot more camaraderie with the constituents now.”

SONG REVENUE: HOPPED UP
Bad Bunny makes the most of his turn at bat. (5/20a)
TOP 20: KENDRICK
LEADS THE WAY
Another record-breaking debut week. (5/18a)
GREEN AS EVER
A think piece—cool! (5/19a)
FEET OF CLAY AND “TAPDANCING AROUND THE CONVERSATION”: KENDRICK LAMAR’S BREAKTHROUGHS
The K-Dot aesthetic examined (5/20a)
LNX BATHED IN STARLIGHT BY SHOF
23 with a bullet (5/19a)
SUPERSTAR RELEASES
Who's next?
MUSIC BIZ SPECIAL
It's Comic-Con for numbers geeks.
THE BIG CHEESE
Theories of evolution from 30,000 feet.
THE NEXT GIANT DEAL
A&R in overdrive.
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)