James Brown’s estate has been sold for $90 million to Primary Wave, the latter company announced on Monday.
While Primary Wave did not reveal the terms of the deal, the New York Times is reporting that the estate was in fact sold for $90 Million. According to Rolling Stone, Primary Wave bough the entirety of Brown’s publishing, master, and name and likeness rights.
Brown originally left his estate to charity – his intention was to fund scholarships for underprivileged kids in South Carolina and Georgia. While the entirety of the estate will no longer do that, Primary Wave CEO Larry Mestel did say that a percentage of the income made from Brown will go to the scholarship.
“The James Brown Estate and related Trust are very proud and excited to work with Larry Mestel and Primary Wave,” Bauknight said in a statement. “We believe that our choice of professionals to take the James Brown Legacy to the next level is going to prove to be one of the most successful events in Mr. Brown’s long history in show business.”
