Primary Wave confirmed on Thursday that it has finalised the deal with the Estate of Biggie Smalls concerning the sale of a stake in the legendary rapper’s catalog.
Primary Wave isn’t new in the catalog acquisition business; the company has been one of the most active companies in the catalog acquisition space over the past several years, buying up rights for legendary artists like Whitney Houston, Stevie Nicks, Bob Marley, and Luther Vandross.
Therefore, the late rapper’s publishing and publicity rights now have a suitor in Primary Wave.
According to multiple sources, publishing rights to the Brooklyn legend’s catalog of works are on the table for $100 million, as are master rights for a slightly higher price (another $30 to $50 million, an insider share).
The deal includes publicity rights, which cover an individual’s name, image, voice, and other identifiable characteristics like key verses in lyrics.
Related stories
Master rights include the actual recorded works, as opposed to the compositions (or songwriting) covered under the publishing umbrella.
This deal was made public weeks after The Hollywood Reporter first broke the news on the deal’s development. Primary Wave didn’t disclose the financial details of the deal.
The outlet previously reported that a source told them that Biggie’s publishing rights were up for about $100 million, while the master rights were on the table for another 30 to 50 million.
It went on to say that the sources allegedly said the deal gives Primary Wave 50 percent of both his rights, as well as his name and likeness.
Voletta Wallace, Biggie Smalls’ mother, reportedly reached the agreement just before she passed away last month.
Notorious B.I.G., whose real name is Christopher Wallace, is known as one of the greatest and most influential artists in the history of rap.
He was however tragically killed in Los Angeles in 1997 at the age of 24.
