Primary Wave buys stake in Prince estate

Primary Wave has added a substantial stake in the Prince estate to its list of recent acquisitions, which include an $80m majority stake in the publishing catalog of Fleetwood Mac member Stevie Nicks.

Last week, Minnesota’s Star Tribune first reported that Primary Wave had bought out three of Prince’s siblings.

According to the article, Primary Wave acquired “100% of the inheritance” of Prince’s youngest of six siblings, Omarr Baker, as well as 90% of sister Tyka Nelson’s stake and 100% of the stake held by Alfred Jackson.

An article from the Wall Street Journal followed, stating that through these deals, “Primary Wave is lined up to own about 42%” of the legendary singer’s estate, which the WSJ added is “valued somewhere between $100 million and $300 million”.

Primary Wave has now confirmed in an official media release that it has acquired expectancy interests in the estate of Prince from the late singer’s siblings. The exact percentages of those interests haven’t been disclosed, however.

Read more in musicbuisnessworldwide.com.