Published: Tue, November 15, 2016
Culture | By Antonia Gonzales

Prince's Estate Rejects Jay Z's Bid For Unreleased Music Catalog

Prince's Estate Rejects Jay Z's Bid For Unreleased Music Catalog

We broke the story, Jay Z had offered around $40 million to take control of Prince's unreleased tracks.

TIDAL may be the only place you can stream Prince's music, but it won't be the home of The Purple Sage's vaulted recordings.

Jay-Z's streaming service boasted exclusive streaming rights to Prince's legendary music catalog, but it turns out that they didn't actually have the rights and now face a massive backlash from Prince's estate.

Since the passing of Prince, the estate has had to deal with multiple issues regarding the pop singer's music. On top of all of his studio albums Jay-Z apparently also failed to pay $750,000 for exclusive rights to Prince's last release "HitNRun Phase One".

According to TMZ, the Brooklyn native met with the late musician's sister, Tyka, and her husband, Maurice Phillips, months ago where he made an offer to the tune of $40M, sources told the entertainment news outlet. "Tidal have honored Us with a non-restrictive arrangement that once again allows Us to continue making art in the fashion We've grown accustomed 2 and We're extremely grateful 4 their generous support".

Universal Music recently announced that it was the exclusive publisher of Prince's music.

In the letter to Jay Z's team, the Batdance singer's estate said they would pass on the deal, as they didn't want 'Roc Nation to exploit any of the intellectual property assets of the Estate'.

Needless to say, it doesn't appear that TIDAL's current monopoly on Prince streams will last too much longer unless a subsequent deal is made.

Representatives for Prince's estate were not immediately available.

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