Universal Music Group's Deal to License, Distribute Prince's Music Can Be Rescinded, Judge Rules

Universal Music Group's Deal to License, Distribute Prince's Music Can Be Rescinded, Judge Rules Photo: File photo

July 13, 2017 06:45 PM

A Carver County judge Thursday approved a motion by Prince's personal estate administrator Comerica Bank and Trust to rescind a distribution and license agreement the former special administrator of the estate entered into with Universal Music Group in January.

According to court documents, that deal, which has been reported to be worth over $30 million for the late Minnesota music icon's music catalog, was negotiated by Bremer Trust National Association with the assistance of entertainment advisors L. Londell McMillan and Charles Koppelman.

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It hit a snag, though, when Warner Brothers Records claimed the deal sold rights to UMG that WBR already held through previous agreements.

In court documents, Comerica Bank and Trust said a review of Warner Brothers claims, and its own personal review, left it unable to "unequivocally assure either UMG or the Court that no overlap exists between rights granted under the UMG agreement or the rights held by WBR."

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Frank Rajkowski

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