James Brown’s Estate Sells For $90 Million After 15-Year Battle
After a long-running battle that lasted 15 years, James Brown’s estate has finally sold for some serious coin!
According to reports, James Brown’s estate has recently finalized a huge deal and sold the late singer’s music assets to Primary Wave, a private music publishing and talent management company. Primary Wave hasn’t released financial details about their latest purchase, but reports claim that the deal is estimated at $90 million. Reportedly, this price bought the company the entirety of James Brown’s publishing, master income stream, and name and likeness rights that were owned by the estate.
On Dec. 13 Primary Wave released a statement to their website about the deal. In part, It says,
“In this exciting partnership with the estate, Primary Wave Music has acquired a stake in Brown’s publishing, master recording income stream, and name and likeness rights. Primary Wave will also continue a partnership with the estate, which will include several projects related to The James Brown 2000 Trust, which was established in 2000 by Mr. Brown for charitable and educational purposes.
The estate will now have access to Primary Wave’s entire marketing team, digital team, publicity department, branding team, and publishing infrastructure which includes licensing and synch opportunities.”
This $90 million sale comes after 15 years of dispute over Brown’s estate. Reportedly, the ‘Get Up Offa That Thing’ singer left most of his assets in a will to establish scholarships for underprivileged children in South Carolina and Georgia. However, contention among Brown’s heirs delayed the scholarship fund. Thanks to the estate sale, Brown’s scholarship fund is expected to come to fruition soon.
According to reports, the money made from the sale will contribute to funding the scholarships. In addition to that, Primary Wave’s founder and CEO, Larry Mestel, shared that the company will give small percentages of earnings from future deals from Brown’s music to the scholarships.
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