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Court Ruling Voids Deal Between Prince Estate And Universal

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A new court ruling has voided a deal between Prince's estate and Universal Music Group, meaning that UMG will get its $31 million back on a licensing deal with the late musician's estate.

A judge has granted the estate administrator's motion to void the deal due to ambiguity surrounding whether the rights conflicted with Warner Music Group's rights.

In a joint statement, UMG and the Prince estate said they welcomed the court's approval of their "amicable resolution" and looked forward to "continuing to work closely together on Prince's music publishing and merchandise to ensure that we deliver the very best experiences to Prince fans around the world."

UMG still controls the rights to administer Prince's publishing worldwide, as well as to make his merchandise. The estate can now shop the recorded-music rights to another buyer.

by RTT Staff Writer

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