In re: The Estate of Prince Rogers Nelson, Deceased, No. 10-PR-16 in the Carver County District Court June 2017.
A Minnesota judge voided a portion of Universal Music Group’s $31 million deal with Prince’s estate, ordering the estate to refund Universal Music Group’s advanced payment.
After determining that the exclusive licensing agreement made back in January included rights that were already guaranteed to Warner Bros. through previous agreements, Prince’s estate asked the court to rescind the agreement so they could ensure no overlapping occurred. The court determined that rescinding the agreement was in everyone’s best interest as opposed to long and expensive litigation.