Calling Prince.... You can bid too. You got the $$$


http://www.foxnews.com/st...80,00.html


Jacko's Money Troubles Could Hurt Sly Stone

Believe it or not, Michael Jackson’s inability to manage his finances may soon affect Sly Stone.

You saw the late '60s R&B genius — aka the J.D. Salinger of pop music — make his bizarre return to show biz at the Grammys. He appeared on stage sporting a huge white rooster’s mane of a mohawk, plunked a few notes on a keyboard and then split for locations unknown. It was all in support of a new album of remixed hits called “Different Strokes for Different Folks.”

What you may not know that is all of Sly’s famous songs from the '60s — “Everyday People,” “I Want To Take You Higher,” “Family Affair,” etc. — are published by Jackson’s MiJac Music. And MiJac is currently the collateral for a $70 million loan that will come due on Feb. 20.

Another $200 million, also due that day, was backed by Jackson’s ownership in Sony/ATV Music Publishing. MiJac, which also holds all of the songs Jackson’s written as an adult, is part of Warner Chappell Music.

(Story continues below)


Stone’s managers are said to be eager to rescue their man’s catalog from MiJac before it’s out of reach. But in all likelihood, Sly’s songs, along with the Beatles, will wind up in the hands of others very shortly unless Jackson pulls off a miracle.

Yesterday, I talked to some of Sly’s associates and friends about his Grammy appearance. They confirmed for me that during rehearsals he wore a snow parka with a hood. None of the performers had any idea he’d have the mohawk; you can see the surprise on their faces.

“Sly knows how to get attention,” says a source. “People are still talking about him.”

Contrary to reports by people who weren’t there, Sly did not vomit before taking the stage, and he didn’t leave the Staples Center alone and dejected.

I was there, for one, and so were his stylist, girlfriend, sister and niece. His incoherence, my sources say, is not so bad. And on the show, they say, he looked worse than usual.

“For one thing, the producers picked “I Want to Take You Higher.” Sly only sings on the choruses of that song, not the verses. So that’s why he sang the word “higher” a couple of times. Plus his microphone was off. And they cut to him during the verses, not the choruses. It was a mess.”

Of course, Sly wasn’t exactly an easy contributor to the rehearsal process, but we’ll take this explanation at face value. They say he wanted to do “Thank You (Fa Lettin’ Be Myself Again).” But who knows what would have happened, considering a few days before the show, Sly fell off his motorcycle and broke his arm. I’m told he had surgery at UCLA Medical Center.

Anyway, Sly is still managed — since 1980—by Jerry Goldstein and Glenn Stone of Avenue Music. They also managed War, the seminal '70s R&B band, and are currently prepping the launch of Devin Lima, the up-and-coming former lead singer of LFO, who sang “If You Want Me To Stay” at the Grammys as he does on the new Sly remix record from Sony.

Goldstein and Stone collect Sly’s royalties from his publishing, record sales and samples (like Janet Jackson’s “Rhythm Nation”). Stone is said to live very well in Beverly Hills, where he supports a large entourage. He also has three children: a son, Sly Jr., a recent college grad daughter, Novi, and another son, named Fun, as in “Hot Fun in the Summertime.”

So what’s next for Sly? Maybe a boxed set, since there isn’t one, from the 715 masters in Sony’s vaults. And who knows? One day, perhaps, we’ll hear all the music he’s recorded at home for the last 32 years. My sources say he has a lyric book “that’s an inch and a half thick” and as many recordings to go with it.

And there’s always the remix album, which is doing well since it went retail (it was actually released in July at Starbucks). But “he loved what he did on the Grammys,” my source says. “It was a big step forward.”
[Edited 2/19/06 11:13am]

bring on the boxed set

May this be a warning to all of those who do drugs...

And now how exactly does the selling of his masters affect Sly? Does it matter who has them? Don't get it.

Because if Sly doesn't own his masters, anyone who buys them can do ANYTHING with his songs. They can use them for something that Sly may not approve of (Like the Toyota car commercial a few years back when they used "Everyday People") and may not get paid for it either.Same thing happened to our boy Prince when Walmart used "Baby I'm A Star" (sung by Tina Turner) for thier ads.

Good to hear that Sly is doing well. I heard that Sly's people were having a difficult time with putting a box set together because there weren't enough good live recordings around. Hopefully after reading that, something will come out. It's LONG overdue.

OK, that much I know. But it's not any different now, is it? His manager want to rescue the catalog from MiJac, but how? Wouldn't they have to buy it? But that they could do when Jackson would have to sell them, or not?

And what does this mean "...will wind up in the hands of others very shortly unless Jackson pulls off a miracle." Is he supposed to keep it and sell it to them directly for a cheap price? Or do they want it to be in MJ's hands? Does Sly even hev the money to buy it? Or does the catalog go back to him when nobody buys it?

still

calldapplwondery83 said:

What this means is it will go up for auction according to Law. Sly doesn't have the money to buy something like this.


This is a BIG deal you can do anything you want with the whole damn catalog. Imagine the power you could have in licensing and it's all yours? You never know what the user will approve of Sly's catalog of masters,publishing without his approval. The Sky is the limit to the winning bidder. And that's why it's news. Same with the Beatles....




If I was Richard branson I'd buy it. Extremely great investment.
I hope Sly gets his masters back. He should have done what Roy Ayers did which was take every master of his when he left the label as part of his deal.
[Edited 2/17/06 11:28am]

SPYZFAN1 said:

You ssy that like it hasn't happened already. Ahem this tribute album with Will I am rappin to the Master of Dance the Music and Devin Lima from LFO singing If you want me to Stay. Fantasia etc... of artists no one really cares to hear on Sly covers. And Sly approved this.

MikeMatronik said:

you mean MJ who is losing control of Sly's catalog?

Bill Gates or some other super-rich person should buy Sly's masters and then give them to Sly (as long as Sly looked after them, and released proper remasters and all his good unreleased material!)

I suppose we can but dream ...

Nah, I'm hip to the Sly tribute CD (that I have absolutely no intention on buying)..but if Sly's masters are for sale, I'm really hoping Sly's people can pool up some $$ to buy it back. Last thing I need to hear is Kelly Osbourne or Britney Spears trying to cover "Dance To The Music" or 50 Cent and Marshall Mathers bastardizing "Don't Call Me Nigger, Whitey".

SPYZFAN1 said:

that image has me rollin!

so sly is broke? i thought crack was cheap...whats he buying?

I don't care who owns the masters, it's very doubtful that Sly will ever be able to afford them anyway. What I would like to see is a pile of reissues w/bonus tracks.

rialb said:

are the masters for sale?

.
[Edited 7/21/18 17:04pm]

Sly is probably another one in that looooong list of artists who signed record deals without understanding the business side of the industry. It's got to piss him off that some pencil pusher who's never even picked up an instrument can make money off of all that hard work that he put in to create those songs. I hope alot of these young up and coming artists pay attention to what's happened to Sly and others. Like Chuck D of Public Enemy once said. "If You Don't Control The Masters, They Will Control You".

soulsike said:

once more please!

ThePunisher said:

Who said that?

soulsike said:

Whoops. Sorry. I guess I was just hoping that the masters were for sale so we could finally get some reissues.

Now we are all happy. I edited the title so his publishing is for sale.
Simple Mistake -I thought it said masters as well. ;lol:

Like no one has ever misread something before.

World crisis averted

Michael Jackson isn't selling his Sly & The Family Stone publising rights and his publishing companies ATV and MiJac Music aren't up for sale.

The man Roger Friedman who wrote the article is writing articles every week saying Michael Jackson owes another $200 million to Sony and then another $200 million to The Bannk Of America by Feb 20th by 9am etc, and then just in the nick of time according to Roger Friedman, Michael Jackson manages as broke as he is alleged to be to pay $200 million just in time. Then Roger Friedman writess another stupid article saying Michael Jackson can't pay his employees etc. Michael Jackson doesn't owe Sony $200 million and Sony even said so ie Michael Jackson's still an extreamly wealthy multi millionaire many times over.
[Edited 2/19/06 11:27am]

sosgemini said:

-----
He is not broke. He does get some portion of the royalites. We just don't have a good Sly Stone box set because he does not control the masters.

I bet you would not make crack jokes if W&L were dope heads.