Business

Prince estate signs merchandising deal with UMG's Bravado

Posted January 10, 2017 6:00 am

The Associated Press

MINNEAPOLIS (AP) - Prince's estate has signed a merchandising deal naming Universal Music Group's Bravado unit as its exclusive branding and licensing partner worldwide.

Tuesday's announcement says Bravado will work with the estate to manage retail and licensing endeavors for Prince's brand.

Bravado CEO Mat Vlasic says it will ensure that Prince "continues to thrill fans and impact culture around the world."

Prince's entertainment assets are being managed under court orders by industry experts Charles Koppelman and L. Londell McMillan, who say the deal will support Prince's legacy and give fans new opportunities to connect with him.

Prince died of an accidental painkiller overdose in April. A Minnesota judge is expected to declare his siblings heirs to his estate, which court filings suggest is worth about $200 million.

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