The mysteries hidden in Prince's ballyhooed vault at Paisley Park are being shopped to three major labels with an asking price of $35 million, Billboard has reported.
Prince's estate has yet to catalog the vault's contents, but it is believed to contain thousands of hours of unreleased recordings, videos, concert footage and even movies recorded during the artist's four-decade career.
Some of the recordings could default to Warner Bros., where Prince was under contract from 1977 to the mid-90s. He later had short-term deals with various labels, including Epic, Arista and EMI. It's also unclear if the recordings being offered would include the major-label albums once their rights revert to Prince's estate.
The material is being shopped by veteran music executive Charles Koppelman and entertainment lawyer L. Londell McMillan, who were appointed by Carver County District Court to work as music advisers to Prince's estate.
Since his death on April 21, Prince has sold 1.95 million albums and 4.9 million song downloads in the United States, according to Nielsen Music.
JON BREAM
