James Brown’s music assets have been sold for $90 million (£68 million).
Executives at Primary Wave, a publishing and management company, announced on Monday that they have purchased assets from the late singer’s estate.
Though the company bosses did not comment on specifics surrounding the monumental deal, a source speaking to Rolling Stone alleged they bought “the entirety of Brown’s publishing, master income stream, and name and likeness rights” that were previously held by the estate.
The news comes after over a decade of disputes over the Godfather of Soul’s fortune following his death in 2006 at age 73 from congestive heart failure.
Brown indicated in his will that he wanted to create scholarship programmes for disadvantaged youth in Georgia and South Carolina.
However, his heirs, who inherited his possessions, costumes, and $2 million for his grandchildren’s education, delayed establishing the fund.
A web of lawsuits remains despite the acquisition, including one from Adele Pope who previously served as executor of the I Got You hitmaker’s will.
According to a report from The New York Times, the fund will be delayed until that matter, among others, are settled.
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Gavin Ryan reports with thanks to Australian-Charts.com
