Judge Grants Nullification of Universal's Prince Estate Contract

Universal's Move to Nullify $31 Million Prince Deal Approved by Judge

Universal's Move to Nullify $31 Million Prince Deal Approved by Judge

UMG had agreed to purchase the massive amount of unreleased music in Prince's vault back in January, but nearly immediately following the purchase the music giant began to have second thoughts and sought to find a way to cancel the transaction. After the deal was done, Universal discovered that some of the material it paid to obtain rights for (Purple Rain and anything released before 1996) was still under contract at Warner Brothers. However, the company became concerned about conflicts with the rights already owned by Warner Music Group, and filled suit requesting the transaction be voided (via Billboard).

Ultimately, he determined, "As previously noted, this Court believes that the Estate must proceed in a cautious manner to preserve the assets of the Estate". But attorneys for Universal Music Group filed a letter last month saying their review only confirmed that Universal should be released, Eide wrote.

Universal and the Estate of Prince Rogers Nelson issued the following joint statement on the matter: "Universal Music Group and the Estate of Prince Rogers Nelson welcome the court's approval of our amicable resolution to this matter. We look forward to continuing to work closely together on Prince's music publishing and merchandise to ensure that we deliver the very best experiences to Prince's fans around the world".

Andy Robertson deal close?
The 20-year-old spent the 2016-17 campaign on loan at Barnsley, where he was one of the club's top performers. The England youth global made 45 appearances and was even named Barnsley's Young Player of the Year.

Reached by Variety on Thursday evening, McMillan said, "Pleased this is resolved".

The move raises the question of whether the estate's former advisors, L. Londell McMillan and Charles Koppelman, will keep the combined 10 percent commission they earned on the deal. A lawyer for McMillan replied caustically in a counter-filing: "While perhaps culturally interesting (though factually incorrect), Jay-Z's view of Mr. McMillan is not legally relevant, other than to note that Jay-Z himself is competing for rights to distribute Prince's music". "We stand by our work".

But the judge said that Universal reiterated threats of legal action after its lawyers were allowed last month to see the Warner contract.

General Electric Company (GE) Rating Reiterated by Oppenheimer Holdings, Inc
Ullmann Financial Group Inc. bought a new stake in shares of General Electric Company during the first quarter valued at $106,000. On average, analysts anticipate that General Electric Company will post $1.64 earnings per share for the current fiscal year.

UMG had purchased a package involving music from Prince's vault as well as his independent NPG-era back in January. Warner Bros owns these rights until 2021, not 2018 as Universal originally believed.

Prince returned to Warner in 2014 but kept defying industry conventions.

Nolito to join Sevilla
The 30-year-old is scheduled to travel to Spain on Sunday to complete his medical ahead of signing a three year contract. Manchester City forward Nolito will have a medical at Sevilla after the clubs agreed a deal for the Spain worldwide .

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