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Article: Universal Moves Ahead to Nullify Prince Recorded-Music Deal Check out this article published today by Variety entitled "Universal Moves Ahead to Nullify Prince Recorded-Music Deal": http://variety.com/2017/m...79512/amp/ | |
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the fewer record companies involved in Princes the better IMHO. | |
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Prince's distrust of competent lawyers and advisors and an unhealthly lack of respect for (or faith in) the real world rules of business and contracts have cost him and his heirs his legacy. Its friggin' tragic.
Its a shame that his talent was so intimidating. If'd only held on to one friend to slap some sense into him.
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The Warner's stuff will be up to Warners (I assume heirs have approval rights but they have no reason to turn anything down, they need the money).
The non-warner (I assume post 1993) is up for grabs but this albums are not worth much in the eyes of SONY or WB. (UNI has no interest it them as they could have just offerred less but instead chose to recind entirely)
Seems like the WB contract is written very poorly and vague (thats what you get when you let Van Jones and non-laywers negotiate for you), so I would guess Warner's will just get all the rest of the catalog cheap "for 'a song' (LOL)" since no other company wants to run the risk of Warners making claims under the current agreement.
MORAL OF THE STORY: FIND A GOOD LAWYER, WRITE A WILL.
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I wonder what WB initially offered for the same deal. They could negotiate a steal now. | |
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Kiss future remasters bye bye "We went where our music was appreciated, and that was everywhere but the USA, we knew we had fans, but there is only so much of the world you can play at once" Magne F | |
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and true love lives on lollipops and crisps | |
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lastdecember said: Kiss future remasters bye bye Future remasters are more likely as no other parties are contesting Warner Bros rights to them now. What is in doubt is Prince's unreleased material post-WB. | |
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Naw if there's money to be made...money will be made. Get real. I also don't think it's going to be long before they start pumping them out because every year the value of recorded music decreases thanks to piracy and streaming. They wait too long and the small market for physical product will be miniscule (I will also prefer physical product myself. F*ck streaming and f*ck mp3s) | |
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SOMEONE has to be willing to pay a certain amount and be savy enough to recoup | |
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YEAH, not only about show biz but about drug abuse, loyalty, fidelity...you know, the real stuff that matters. Tragic...killed by Yes, ego, being reclusive. | |
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Welcome to "the org", Mumio…they can have you, but I'll have your love in the end | |
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Rescission is the only option by the Judge. Otherwise UMG is going to file a lawsuit against the Estate. The Estate is already in litigation hell. No need to add to the list. Morris says P recorded 10 albums between 20Ten and Art Official Age. You would think those albums would be worth something? [Edited 6/27/17 19:38pm] | |
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IstenSzek said:
Let me be the first to say this: | |
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and true love lives on lollipops and crisps | |
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and true love lives on lollipops and crisps | |
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Argh. I hope the estate gets it together. Did they really think that this wasn't going to be a problem, selling UMG rights to material that WB has a legitimate claim to? "Love & honesty, peace & harmony" | |
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Ohh purple joy oh purple bliss oh purple rapture! REAL MUSIC by REAL MUSICIANS - Prince "I kind of wish there was a reason for Prince to make the site crash more" ~~ Ben |
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First I've heard this. Exciting. | |
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ISaidLifeIsJustAGame said: Rescission is the only option by the Judge. Otherwise UMG is going to file a lawsuit against the Estate. The Estate is already in litigation hell. No need to add to the list. Morris says P recorded 10 albums between 20Ten and Art Official Age. You would think those albums would be worth something? [Edited 6/27/17 19:38pm] $30M is a steal. It saddens me that this is all such a mess. 😔 Paisley Park is in your heart
#PrinceForever 💜 | |
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If WB hadn't made a bit of a mess of PR Deluxe I'd have said it's best they get control of all the music and assign one person/team to deal with remasters and new releases. . At least they won't have to worry about who owns the rights to what, depending on year recorded or released, etc! . There's a chance they'd have a better knowledge of what is available to release, and in a timely order. | |
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Morris Hayes? When and where did he say that? | |
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RIP | |
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Clearance has to be given to do any kind of anything to his work. He signed off on PR and that is why we got that remaster, the bonus stuff was taken from the sources that WB had possession of which is why everyone is going nuts over quality because what they have and probably what PRINCE had has not aged well, we forget that these demos and things are basically all cassette recordings from over 30 years ago, its not like demos he did in the last decade so people need to accept that they are going to get a lot of muddy sound and stuff. Then there comes the task of "if" someone lets WB touch the vault, who does it, who sorts through it, Prince left no direction so it will be up to the label to decide, and I know we all want people that worked with him then to do any kind of sorting but that will again be up outside sources. Also there comes the question what about things after he left WB? they have no control over that, he did not let those things go to them, his one off deals with labels like Sony Universal and Arista are not for WB to touch and though those albums dont need to be remastered anything he was working on then demo wise will also be an issue of getting. I know some are clammoring for later material and final concert but that ironically will be the hardest to get control of. "We went where our music was appreciated, and that was everywhere but the USA, we knew we had fans, but there is only so much of the world you can play at once" Magne F | |
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The 7-CD Emancipation reissue could be off for awhile. Shucks. | |
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So did WB win the prince war?
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WB has an exclusive distribution deal with the P estate for another 4 years. There's no war between WB and the estate. The estate is making money from the PR remaster and will likely use those funds to cut Universal a $30,000,000 check for the botched deal (thanks Londell?).
Ownership of the WB era masters reverted to Prince when he signed the distribution deal with WB back in 2014. Now that P is gone, it's in the estate's best interest to work with WB and grant them access to the music if they want to continue making money from this deal.
And they'd better do it quickly.
[Edited 6/28/17 9:25am] | |
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I dont blame LLondell 100% on this. He didnt write the 2014 WB contract (right?). If we give him the benefit of the doubt (and that he did not try to committ fraud), seems like there is considerable ambuiguity (to WB favor) in that agreement and that he did not accurately explain that to Uni and due to confidentiality contrstraints they could not show the actual agreement to Uni.
Poor judgment on Uni's party to bid such a high amount without looking at the contract. Also, given the confidentiality constraints, Londell had a bit of a professional obligation to explain better what rights were actually availiable for UNI to bid on.
But utlimately seems that Prince did not cut a very good deal with WB yet again. ARE GOOD LAWYERS THAT HARD TO FIND? JFC I'm sure BEYONCE HAS A GOOD ONE.
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Don't hate your neighbors. Hate the media that tells you to hate your neighbors. | |
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