Universal Music has struck a deal to release much of Prince’s private archive.
The world’s biggest music label said the deal gave it exclusive licensing rights to Prince’s “highly anticipated trove of unreleased works”.
Universal has also acquired the rights to 25 albums that Prince released through NPG Records, the label that he founded.
The value of the deal has not been disclosed.
Photo Getty Images
However, last October, reports emerged that the unreleased music was up for sale for $35 million.
In a statement, Universal Music Group said it had reached a multi-year agreement with the Estate of Prince Rogers Nelson and NPG Records.
Under the terms of the deal it will be collaborating with the estate “with regard to Prince’s vault of prized unreleased works from throughout his career, including outtakes, demos and live recordings”.
The musician, who died in April 2016, was renowned for the many songs he recorded and then kept in the basement at his Paisley Park home in Minneapolis.
Prince was the only person with the code to open the safe.
From 2018 the new deal also gives Universal US rights to certain Prince albums released between 1979 and 1995.
Universal’s executive vice president, Michele Anthony, said it was an honor “professionally and personally to be entrusted with these cherished recordings, including his storied ‘vault’ of unreleased music, and to partner with his estate and heirs to preserve and expand Prince’s legacy”.
Over the course of his career Prince sold more than 100 million albums worldwide.
According to new reports, an alleged love child of late star Prince has come forward to claim his inheritance.
The un-named man has enlisted Heir Hunters International to help back his claim that Prince fathered him in the 1980s.
Prince had relations with hundreds of women around the world and now a man from Prince’s home state of Minnesota claims to be his son.
The man has contacted the genealogical and research firm in a bid to net his supposed father’s wealth.
Heir Hunters International claims to have handled cases in 30 countries and to have handled cases totaling well over one hundred million dollars.
The team is now working round the clock to pin down the genealogy of Prince’s alleged love child, the Daily Mail reported.
If the man’s bid is successful it’s believed he will take all of Prince’s $300 million fortune.However, if the man’s claim is found to be false, it’s believed the money could go to Prince’s sister, Tyka Nelson.
Heir Hunters are also dealing with a claim from a man who says he shares the same father as the late star and therefore is his half brother.
The company admits that they have been swamped with “hundreds” of similar claims, however, these are the only two they believe to be potentially legitimate.
“We have received hundreds of calls, emails and letters from people claiming to be either a child of Prince’s or offspring of Prince’s father,” it said.
“Obviously they all can’t be genuine claims, but we have established that at least two seem to be legitimate and will need further investigatio.”
Prince’s family has begun the process of dividing up the singer’s sizeable assets.
The iconic musician left no known will and his assets are estimated to be worth about $100 million.
Prince died at his Paisley Park compound outside Minneapolis, Minnesota, on April 21.
The singer’s sister, Tyka Nelson, and half-siblings are the apparent heirs to his estate, authorities have said.
Tyka Nelson and Prince’s half-sibling Alfred Jackson attended a hearing on May 2 at the Carver County courthouse in Minnesota, where lawyers began surveying the singer’s estate.
If no will is found, the state will determine how the money is divided up.
Photo Getty Images
During the short hearing, Judge Kevin Eide formally appointed Bremer Trust National Association as the special administration to oversee Prince’s probate case.
One attorney said there was an “ongoing search” for a will.
Investigators are still determining how Prince died at the age of 57.
Prescription painkillers were in Prince’s possession when he died. However, it is unclear what role, if any, those drugs may have played.
A law enforcement official confirmed to the Associated Press that investigators were looking into whether Prince died from a drug overdose and whether a doctor was prescribing him drugs in the weeks before his death.
According to ABC News, a vault containing unreleased Prince’s songs was found at his estate and will be drilled open by the company with temporary authority over his estate.
Prince told The View about his unreleased music in 2012.
Enough music was apparently left behind to release an album a year for the next century.
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