Prince’s Estate Shoots Down Jay Z’s Bid for Music Catalog; Issues With Tidal Deal
Jay Z was eager to obtain Prince’s sought after music catalog but it appears he has to fall back. According to TMZ, administrators for the Purple One’s estate have denied Hov’s lucrative offer to buy the late musician’s unreleased music.
Apparently, Prince’s estate wrote a letter to Jay Z’s team last month, stating that they have no interest in signing a deal with Roc Nation that would “exploit any of the intellectual property assets of the Estate.”
As we previously reported, Jay Z reportedly made a $40 million deal for Prince’s musical works. However, attorney L. Londell McMillan, an advisor to the estate, told Billboard that he’s unaware of Jay Z’s bid to buy the Purple One’s unreleased music.
Meanwhile, Prince's estate also have issue with the Tidal deal. TMZ claims that administrators are upset that Tidal made 15 Prince albums available for streaming after his death without their authorization. The estate also contends that Prince signed a deal with Hov for the 2015 release of his last album, HITnRUN Phase One, and are owed $750,000.
Reps for Jay Z and Roc Nation had no comment on the matter.