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Thread started 04/14/17 7:11am

Giovanni777

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Record label says it didn’t get what it paid for in deal for Prince’s music rights

Universal is asking for a full refund ($30mil), because Warner Bros claims they have the right to block any vault material recorded during Prince WB years.

.

http://www.marketwatch.co...2017-04-14

"He's a musician's musician..."
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Reply #1 posted 04/14/17 7:54am

SomeSoldier

Great..
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Reply #2 posted 04/14/17 7:56am

laurarichardso
n

Giovanni777 said:

Universal is asking for a full refund ($30mil), because Warner Bros claims they have the right to block any vault material recorded during Prince WB years.

.

http://www.marketwatch.co...2017-04-14

'Lawyers representing Universal expressed their concerns about the deal in a letter to Prince’s estate, now being administered by Comerica Bank & Trust, the people said. The company may decide to ask the estate for a full refund, they said.

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Reply #3 posted 04/14/17 8:00am

purplethunder3
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Too bad nobody dealing with Prince's estate can get their shit together.

"Music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything." --Plato
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Reply #4 posted 04/14/17 8:11am

RaspBerryGirlF
riend

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I know almost nothing about what's going on with the estate, mainly because I'm not particularly interested in all this businessy shit (not why I got into Prince's music), but does this mean that the Purple Rain deluxe edition might be delayed or cancelled?

Heavenly wine and roses seems to whisper to me when you smile...
Always cry for love, never cry for pain...
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Reply #5 posted 04/14/17 8:14am

purplethunder3
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Nobody wins in this mess except the lawyers. confused

"Music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything." --Plato
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Reply #6 posted 04/14/17 8:18am

Giovanni777

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The question is: If Universal gets a refund, does WB make an offer?

"He's a musician's musician..."
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Reply #7 posted 04/14/17 8:23am

laurarichardso
n

RaspBerryGirlFriend said:

I know almost nothing about what's going on with the estate, mainly because I'm not particularly interested in all this businessy shit (not why I got into Prince's music), but does this mean that the Purple Rain deluxe edition might be delayed or cancelled?

It is not going to be delayed if WB has the rights to put it out. They have already announced it and Universal would not be asking for their money back if they were not sure that cannot have the rights to the WB vault material.

It is not that complicated either WB has the rights or they do not. I love it as it proves Prince made provisions for this material before his death. No greedy ass lawyers and family members can go against his wishes.

If some stupid ass attorney had not tried to come in and go against his wishes this mess would never have happened in the first place.

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Reply #8 posted 04/14/17 8:24am

laurarichardso
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Giovanni777 said:

The question is: If Universal gets a refund, does WB make an offer?

WB will make an offer for the non-WB years or Universal can keep that stuff but I do not think they want the non-WB stuff.

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Reply #9 posted 04/14/17 8:29am

rogifan

laurarichardson said:



Giovanni777 said:


The question is: If Universal gets a refund, does WB make an offer?



WB will make an offer for the non-WB years or Universal can keep that stuff but I do not think they want the non-WB stuff.


Either way it would be crap. There needs to be one company administering the publishing rights to all his music. And get the non-WB stuff up on the streaming sites already. My god this can't be that difficult.
Paisley Park is in your heart
#PrinceForever 💜
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Reply #10 posted 04/14/17 8:31am

purplethunder3
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Image result for auugh

"Music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything." --Plato
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Reply #11 posted 04/14/17 8:34am

Giovanni777

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I had actually questioned this when the Universal deal was made. When I read that it included WB era vault material, I wondered how WB would not have some rights based on whatever their deal with Prince stated.

"He's a musician's musician..."
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Reply #12 posted 04/14/17 9:30am

march

Does anyone out there know the details of the contract Prince signed with WB in 2014?What did Prince get out of the deal?
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Reply #13 posted 04/14/17 9:38am

laurarichardso
n

march said:

Does anyone out there know the details of the contract Prince signed with WB in 2014?What did Prince get out of the deal?

--The ownership of the masters, licensing fees and a means to get the vault material distributed and marketed.
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Reply #14 posted 04/14/17 9:55am

donnyenglish

Sounds like a lot of inept people handling this stuff. The buyer's side should have required a disclosure of any rights to the material by third parties and the sellers should have disclosed the WB rights. This is standard stuff for a deal like this. It is like buying a house with a lien on it and neither side is aware of the lien. Crazy.

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Reply #15 posted 04/14/17 10:22am

laurarichardso
n

donnyenglish said:

Sounds like a lot of inept people handling this stuff. The buyer's side should have required a disclosure of any rights to the material by third parties and the sellers should have disclosed the WB rights. This is standard stuff for a deal like this. It is like buying a house with a lien on it and neither side is aware of the lien. Crazy.


--It is stupid and backs up the complaints that Tyka and Omarr had about Breamer and McMillian who is an entertainment attorney WTF
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Reply #16 posted 04/14/17 10:25am

rogifan

laurarichardson said:

donnyenglish said:

Sounds like a lot of inept people handling this stuff. The buyer's side should have required a disclosure of any rights to the material by third parties and the sellers should have disclosed the WB rights. This is standard stuff for a deal like this. It is like buying a house with a lien on it and neither side is aware of the lien. Crazy.


--It is stupid and backs up the complaints that Tyka and Omarr had about Breamer and McMillian who is an entertainment attorney WTF

What was/is their alternative?
Paisley Park is in your heart
#PrinceForever 💜
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Reply #17 posted 04/14/17 10:28am

PurpleDiamonds
1

laurarichardson said:

march said:

Does anyone out there know the details of the contract Prince signed with WB in 2014?What did Prince get out of the deal?

--The ownership of the masters, licensing fees and a means to get the vault material distributed and marketed.

So who owns the masters now that Prince has died?
Was there a clause in the WB contract that if Prince died they get all rights to his WB recordings at the time He was under WB contract? Which would include all vault material before emancipation right?
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Reply #18 posted 04/14/17 10:36am

BartVanHemelen

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Giovanni777 said:

Universal is asking for a full refund ($30mil), because Warner Bros claims they have the right to block any vault material recorded during Prince WB years.

.

http://www.marketwatch.co...2017-04-14

.

Damn, I should have taken bets. This was exactly what I thought when I heard about the "they'll get the WBR songs in 2018" -- that was waaaay too vague for a $30 million deal.

© Bart Van Hemelen
This posting is provided AS IS with no warranties, and confers no rights.
It is not authorized by Prince or the NPG Music Club. You assume all risk for
your use. All rights reserved.
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Reply #19 posted 04/14/17 10:37am

laurarichardso
n

PurpleDiamonds1 said:

laurarichardson said:


--The ownership of the masters, licensing fees and a means to get the vault material distributed and marketed.

So who owns the masters now that Prince has died?
Was there a clause in the WB contract that if Prince died they get all rights to his WB recordings at the time He was under WB contract? Which would include all vault material before emancipation right?

--I believe the estate owns the masters and WB has the rights to license the music. International they have the rights forever. I wonder if this is the same domestically because I could have sworn it was in the media that deal with WB would end 2018. If it goes on forever UMG will be out of the picture.
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Reply #20 posted 04/14/17 10:38am

BartVanHemelen

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rogifan said:

laurarichardson said:

WB will make an offer for the non-WB years or Universal can keep that stuff but I do not think they want the non-WB stuff.

Either way it would be crap. There needs to be one company administering the publishing rights to all his music. And get the non-WB stuff up on the streaming sites already. My god this can't be that difficult.

.

THIS IS NOT ABOUT PUBLISHING RIGHTS. Is reading an article so hard?

© Bart Van Hemelen
This posting is provided AS IS with no warranties, and confers no rights.
It is not authorized by Prince or the NPG Music Club. You assume all risk for
your use. All rights reserved.
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Reply #21 posted 04/14/17 10:39am

laurarichardso
n

rogifan said:

laurarichardson said:


--It is stupid and backs up the complaints that Tyka and Omarr had about Breamer and McMillian who is an entertainment attorney WTF

What was/is their alternative?

Well WSJ report no other companies even got a shot at bidding. So will no what other offers could have been avaliable or if the WB makes any offer moot. It is a giant fuck up and the lawsuits will be flying.
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Reply #22 posted 04/14/17 10:43am

morningsong

I take it those lovely cryptic tweets have stopped.

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Reply #23 posted 04/14/17 11:01am

justAmeda

morningsong said:

I take it those lovely cryptic tweets have stopped.

hope so! I know recently that Sharon, Norrine, and Alfred got an emergency protection order granted against Londell

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Reply #24 posted 04/14/17 11:01am

donnyenglish

rogifan said:

laurarichardson said:
--It is stupid and backs up the complaints that Tyka and Omarr had about Breamer and McMillian who is an entertainment attorney WTF
What was/is their alternative?

I am certain that the Universal required a disclosure of any rights to the material. Assuming that no such disclosure was made then they should be able to terminate the contract and get their money back.

Again, this is some amateur stuff on the seller's side? It seems rushed and sloppy. Maybe that is why it was only for $30M. It was an "as is" purchase, but we assumed that related to the contents of the vault. If he had 300 finished albums that were all masterpieces, then they got a great deal. If the vault just has material like unfinished demos, extended stuff, mediocre quality live recordings, outtakes, etc., that only us diehards on this site would purchase, then the deal may be better for the heirs. But, Universal didn't go into this thinking that the rights to 20 years of the vault material that they purchased the rights belonged to someone else.

Matter of time before the heirs file a malpractice lawsuit. This thing is a mess. And with the release of the investigation file on Monday, it is going to be a tough time for fans. I swear, I wish we were in charge.

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Reply #25 posted 04/14/17 11:03am

injuredpinky

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Next time Universal and WB should pay attention to the paper they sign.

.

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Reply #26 posted 04/14/17 11:07am

laurarichardso
n

justAmeda said:



morningsong said:


I take it those lovely cryptic tweets have stopped.



hope so! I know recently that Sharon, Norrine, and Alfred got an emergency protection order granted against Londell


--So they finally woke the fuck up! At one point they were trying to squash the subpoena.
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Reply #27 posted 04/14/17 11:07am

purplethunder3
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injuredpinky said:

Next time Universal and WB should pay attention to the paper they sign.

.

razz lol

"Music gives a soul to the universe, wings to the mind, flight to the imagination and life to everything." --Plato
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Reply #28 posted 04/14/17 12:02pm

justAmeda

laurarichardson said:

justAmeda said:

hope so! I know recently that Sharon, Norrine, and Alfred got an emergency protection order granted against Londell

--So they finally woke the fuck up! At one point they were trying to squash the subpoena.

Yeah judge granted the EPO but did quash the supeona duces tecum.

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Reply #29 posted 04/14/17 12:36pm

laurarichardso
n

justAmeda said:

laurarichardson said:

justAmeda said: --So they finally woke the fuck up! At one point they were trying to squash the subpoena.

Yeah judge granted the EPO but did quash the supeona duces tecum.

Well it looks like litagation may be coming so any documents they want they will get.

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Forums > Prince: Music and More > Record label says it didn’t get what it paid for in deal for Prince’s music rights