UMG Grabs International Rights For Sinatra
August 21, 2009 at 5:37 AM (PT)
UNIVERSAL MUSIC GROUP has aquired international rights to 38 albums recorded by FRANK SINATRA, reports THE FINANCIAL TIMES, moving forward on plans to commercialise the entertainer's estate on the eve of the 40th anniversary of the release of "My Way." FRANK SINATRA ENTERPRISES will announce TODAY (8/21) that UMG International will take over the catalogue rights outside NORTH AMERICA from WARNER MUSIC GROUP.
This venture is reportedly being studied by trustees of the MICHAEL JACKSON estate, as they look into ways to monitize renewed interest in the singer's music and image since his death in JUNE.
Stars such as SINATRA, who died in 1998, and ELVIS PRESLEY continue to bring in big money. The PRESLEY estate reported revenues of $55 million and almost $12 million in operating income last year for CKX, the rights management business that owns 85% of ELVIS PRESLEY ENTERPRISES.
THE TIMES writes "UNIVERSAL's multimillion-dollar deal with FRANK SINATRA ENTERPRISES will allow it to reissue all the albums SINATRA recorded for REPRISE, the record label he formed in 1960, which include hit songs such as 'My Way,' 'Strangers In The Night' and 'It Was a Very Good Year.'"