Fifteen years that the file dragged on.
Since the death of James Brown at Christmas 2006, the sale of his catalog and the rights to broadcast his music, wanted by the singer, was the subject of an endless legal battle.
His fourth and last wife, Tomi Ray Hynie, along with five of his children, opposed the sale, going against his last wishes.
A matter now settled, since
Primary Wave
, an asset management company specializing in the entertainment industry, has bought the catalog of the legend of soul.
The transaction is estimated at $ 90 million by the
New York Times.
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During his lifetime, however, James Brown never concealed his wish to assign his rights in order to finance a scholarship for children in the states of South Carolina and Georgia.
The program to help these young people in difficulty is called the James Brown Trust 2000. One way to help young people in the two places who saw him grow up in poverty.
Born in Barnwell, South Carolina, he spent the majority of his youth on his own on the streets of Augusta, Georgia.
A percentage of future income
The transaction involves more than the broadcasting and publishing rights to James Brown's music.
The use of the name, the image, but also the real estate are included in the deal.
In the pages of The
Times
, the president and founder of
Primary Wave
Larry Mestel recalls that “
James Brown was one of the greatest musical artists of all time and one of the greatest legends of the music industry.
It fits like a glove to what we do.
"
The contract between the beneficiaries and the asset management company also includes a clause ensuring that a percentage of future income created by the James Brown brand is donated to scholarships for young people participating in the program.
The sale has officially closed, but could take a little while to go into effect.
The former executor of the heritage of the
“godfather of soul”
, Adele Pope, has initiated legal proceedings against the managers of her estate.
Russell Bauknight, in charge of the
James Brown Estate and Trust
and the main target of this lawsuit, has also filed a complaint against Adele Pope.
Catalog buy-back specialists
Primary Wave
is not at its first attempt.
The founder Larry Mestel is even a specialist in this type of buyout.
The company indeed owns a majority of the interests of Prince, and part of the rights of Whitney Houston.
Other artists recently fallen into the fold of the company include Stevie Nicks, Devo or those from the Sun Records label like Elvis Presley.
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Catalog sales have become commonplace in recent years.
Motivated by the desire to offer their beneficiaries (often their families) golden parachutes, or in a hurry by the health crisis and the loss of income linked to the end of concerts, legends such as Bob Dylan, David Crosby or Neil Young have chosen to sell some or all of their rights.
