Primary Wave Music Acquires Stake in The Notorious B.I.G.'s Catalog
The company’s share is valued at around $200 million USD.
Primary Wave Music has officially acquired a 50% share of the Notorious B.I.G.‘s estate.
The Wall Street Journal reports that the music publishing and talent management company acquired the stake that was valued at around $200 million USD, and includes Biggie’s music publishing, recordings and specific name, image and likeness rights. While the deal was finalized shortly after the death of Voletta Wallace, the late rapper’s mother, sources state that she was aware of and involved in almost all of the agreements.
The WSJ added that Wallace was able to regain full control of Biggie’s publishing rights while she was still alive; although the original split was 50-50 with Bad Boy during the time of the rapper’s death, his mother was able to up the estate’s share to 85% in the early 2000s before completely obtaining the remaining stake in 2020.
“The estate and Primary Wave will collaborate on all business moving forward in an effort to continue the incredible and innovative work done thus far with one goal in mind, to keep the legacy of the Notorious B.I.G. alive,” Primary Wave said in a statement.
