Jay Z Offered $40 Million for Prince's Unreleased Music: Report
(By Peter Sblendorio 10.26.16 for New York Daily News)
Money ain't a thing to Jay Z — which is probably why he's willing to break the bank to acquire Prince's unreleased music.
The hip-hop mogul offered approximately $40 million for the rights to the never-before-heard tunes that were discovered at Prince's famed Paisley Park home and recording studio after his April death, TMZ reports.
Jay Z, 46, reportedly jetted the Purple One's sister Tyka — Prince’s only full sibling — and her husband to New York a few weeks ago to discuss the prospects of purchasing the highly sought after music.
Tyka, however, doesn't have full say. She'd have to get the approval of Prince's half-brothers and sisters, as well the trust that is currently running musician's lofty estate, before she can turn over the rights to the music to someone else, according to the celebrity gossip site.
Jay Z — who owns the Tidal streaming service and the multi-platform Roc Nation entertainment company — is reportedly one of several big-time executives vying for the music.
Prince's vaunted vault of music — which also contained hours upon hours of live recordings — was located behind a steel door in his Paisley Park basement that had to be drilled open by the company controlling his estate after his passing, according to the BBC.
A former collaborator of the "Purple Rain" singer says Prince developed a bevy of music that never made it to the public's ears.
"I think over 70% of the music we've worked on for Prince is yet to be released," Brent Fischer, who produced string arrangements for Prince, told the BBC.
Prince died in April after overdosing on painkillers and didn't leave a will, complicating who controls the rights to his estate.
A 40-song album titled "Prince 4Ever" featuring the Minnesota native's biggest hits is due out next month, while a remastered version of his legendary "Purple Rain" album — complete with some form of previously unreleased music — is expected to be released in 2017, according to The Los Angeles Times.
A rep for Jay Z did not immediately respond to a request for comment.