Weekend Argus (Saturday Edition)
High-powered lawyers vie to run Prince’s estate
CHASKA, Minnesota: The likely heirs of pop star Prince’s estate are split between two lawyers who vied in court on Thursday to represent their interests in managing his legacy – a political activist turned cable news commentator and a recording industry insider.
Both men – CNN contributor and one-time White House adviser Van Jones, and a show business attorney already hired as an estate consultant, L Londell McMillan – boasted longstanding ties to Prince as they testified in probate court.
Their different backgrounds and priorities hold profound implications for the control and commercial exploitation of musical assets left by Prince when he died unexpectedly last April at age 57.
Some experts have estimated those assets are worth hundreds of millions of dollars, and the two men seeking appointment as personal representative to the heirs contrasted sharply in their pitches to Carver County Judge Kevin Eide.
Jones stressed his collaboration in Prince’s various philanthropic endeavours. “They talk about him being a musical genius, but he had a genius for human beings, for humanity. It’s not for me about money.”
McMillan emphasised his business acumen andexperience in handling the financial interests of numerous recording stars, including Prince, as chairman and chief of NorthStar Enterprises Worldwide.
McMillan recounted launching his own firm with a cheque he received for his help getting Prince out of a contract with Warner Bros in the 1990s, ending a dispute that led the artist to change his name to an unpronounceable symbol.
The considerable fortune left by the musician, born Prince Rogers Nelson, is in the process of being appraised.
The sum would include the value of licensing fees, royalties and future retail sales generated by music from more than 30 albums he released during his career, plus an extensive cache of unheard recordings said to be locked away in a vault. – Reuters