Prince Estate’s $31 Million Distribution Deal Is Rescinded<br />For Universal, the value of the deal hinged on when the company would gain rights to release many of Prince’s classic<br />earlier albums — like “1999,” issued in 1982 — in the United States after existing deals with Warner Bros. expired.<br />By BEN SISARIOJULY 13, 2017<br />Five months ago, the estate of Prince announced a major deal with the Universal Music Group<br />for distribution rights for a substantial portion of the music star’s vast catalog.<br />“We look forward to continuing to work closely together on Prince’s music publishing and merchandise to ensure<br />that we deliver the very best experiences to Prince’s fans around the world.”<br />Once the deal is formally canceled, the estate will have to refund Universal’s money, which was paid in full as a distribution advance.
