Court Voids $31 Million Universal Deal With Prince’s Estate

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UMG had agreed to purchase the massive amount of unreleased music in Prince’s vault back in January, but almost immediately following the purchase the music giant began to have second thoughts and sought to find a way to cancel the transaction. In addition, the rights to Prince’s back catalogue will not expire from Warner Bros. until 2021, which would appear to hurt the timeline UMG is working with as their own publishing rights will expire before then. Seeing as the most profitable tracks from Prince’s vault are from recording sessions from 25+ years ago, the longer it takes to release the less profit can be made. read more at music.mxdwn.com

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