Primary Wave Music has closed a business deal with James Brown’s estate.
The partnership encompasses the New York-based company now owning a stake in Brown’s publishing, master recording income stream, and name and likeness rights.
Brown’s assets were sold for an estimated $90 million, according to The New York Times.
Primary Wave Music plans to lend the estate their full support in allocating resources to carry out the mission of The James Brown 2000 Trust, which was put in place in 2000 by Brown for “charitable and educational purposes.”
The deal also includes some of Brown’s most recognizable hits, including “It’s a Man’s Man’s Man’s World” and “Papa’s Got a Brand New Bag.”
He won his first Grammy award for the latter track, which topped the R&B charts for eight weeks.
“Wow, I am awed that Primary Wave has been chosen by the estate of James Brown to partner with the Godfather of Soul,” said Primary Wave’s CEO/Founder Larry Mestel.
“We are thrilled to help continue the expansion of his influence and further his legacy through both his music and The James Brown 2000 Trust.”
“We believe that our choice of professionals to take the James Brown Legacy to the next level is going to prove to be one of the most successful events in Mr. Browns long history in show business,” said Russell Bauknight, fiduciary for the James Brown Estate and Trust.
Like Brown’s recent deal, the estates and rich legacies of Luther Vandross and Teddy Pendergrass are in the hands of Primary Wave Music.