Die-hard fans of Prince may “go crazy” about the latest developments concerning his estate.
Five years since the death of the prolific music artist, Primary Wave now reportedly controls half his estate after purchasing interest from three of his heirs.
According to the Star Tribune, the New York City-based company purchased 100% of Omarr Baker’s inheritance. Baker is Prince’s youngest half-sibling out of six.
Primary Wave also acquired 90% of Prince’s sister Tyka Nelson’s stake and 100% of the late Alfred Jackson’s interest.
Jackson, who died in 2019, was the son of Prince’s mother, Mattie Baker, and Alfred Jackson Sr.
Prominent entertainment attorney L. Londell McMillan, who represents Prince’s three other sibling heirs, told the outlet: “There’s not much anyone can do about family members who sell out for the dollar. That’s their right.”
Prince, who was a staunch advocate for artist empowerment and a stickler about ownership, died in April 2016 at 57 from a fentanyl overdose.
Although he was considered revolutionary for his business acumen, the Minneapolis native did not leave a will.
Since his death, his remaining family members has been embroiled in a bitter legal battle over the rights to his assets, which Forbes estimated to be worth more than $100 million.
Primary Wave, founded 15 years ago by former top music executive Lawrence Mestel, is known for buying the late Kurt Cobain’s Nirvana catalog.
Among its many divisions, the privately-held company spearheaded by entertainment industry veteran Steve Greener also manages the careers of music acts such as Melissa Etheridge, The Isley Brothers, Yolanda Adams and Jefferson Starship.
Greener is married to Emmy Award-winning daytime television host Tamron Hall, who had a close relationship with Prince. In November 2015, her selfie landed on the single cover for his love song “If I Could Get Ur Attention.”
Primary Wave also owns song copyrights of other major artists such as Whitney Houston, Bob Marley, and Stevie Nicks.
Sharon Nelson, a half-sister to Prince, along with siblings Norrine and John, controls the other half of his estate.
Primary Wave reportedly made offers to Sharon, Norrine, and John but they said no.
“We’ll never sell out,” Sharon Nelson said. “We know the prize.”
