Prince’s Estate Rejects Jay Z’s Bid for Unreleased Music Catalog [Details]
Rucuss staffNovember 13, 2016
Prince’s estate reportedly rejected Jay Z’s offer for the late singer’s music catalog.
TMZ reports that Prince’s estate wrote a letter to Jigga’s team where it stated it was not interested in a deal that would allow Roc Nation to “exploit any of [its] intellectual property assets.”
Jay allegedly offered the estate $40 million for rights to Prince’s unreleased tracks. The legend’s only full sibling, Tyka, and her husband, Maurice Phillips, were interested, but they do not have full rights to such a deal.
The estate is also upset that TIDAL made 15 Prince albums available for streaming after his death. The estate concedes that Prince signed a deal with Jay Z for the 2015 release of his last album HITnRUN Phase One, but the estate claims it hasn’t found proof of the $750,000 payment due.
Upon signing the deal, Prince celebrated Jay’s work with the streaming service.
“TIDAL is sinking money into [the album] and they need it,” Prince explained. “And my heart is always on because I want them to do well. [Beyoncé and Jay Z] have taken a lot of abuse, their family has. A historic amount of abuse between the two of ’em. And when we win on this, none of us’ll gloat. He’s not the gloating type anyway. He’s slick with his. He says to brush the dirt off your shoulder.”
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