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Industry execs appointed to manage Prince legacy
By Chris Cooke | Published on Monday 20 June 2016
Prince’s long-time attorney L Londell McMillan and one-time EMI executive Charles A Koppelman have been appointed to manage the late musician’s business affairs moving forward.
A Minnesota judge last week told the trust company currently overseeing Prince’s estate that it could hire people from the entertainment industry to start the process of preserving, managing and exploiting the legendary artist’s catalogue and legacy, while the courts try to figure out who should be beneficiaries of that work. As previously reported, with no will found, the courts are now trying to work out who Prince’s heirs should be.
The judge told the trust that it should “take all prudent steps” to generate income from Prince’s intellectual property, not least to cover the costs of administering the estate, and other related expenses, such as what is expected to be a sizable tax bill early next year.
McMillan was a long-time advisor to and friend of Prince, while Koppelman, who has led various media and entertainment businesses over the years, signed Prince while he was at EMI for the musician’s first release after parting company with his original label Warner.
