Billboard reports that Prince’s vault of unreleased music is on sale for up to $35 million with Sony, Warner and Universal all bidding
According to Billboard Prince’s vault of unreleased music is being sold for up to $35 million by estate advisers Charles Koppelman and L. Londell McMillan with Sony, Warner and Universal records are all in talks to buy the collection. Billboard‘s source has also revealed that the previously announced deluxe edition of Purple Rain is likely to be dropped in early 2017.
It is still unclear what is inside Prince’s vault as it is still being sorted through by estate attorneys who have not yet determined who will take control of the artist’s assets. Prince was known for cutting extremely short term deals with each of the major labels after leaving Warner Brothers in the 1990s which means that his many unreleased recordings are hard to delegate to any one entity. To further complicate matters Prince had not drawn a will at the time of his death.