The estate of the late R&B crooner Luther Vandross has entered into a “wide-ranging” partnership with Primary Wave Music. The company has acquired a stake in Vandross’ publishing, master recording income stream, plus name and likeness rights. However, his estate will still manage all assets.
The partnership is rumored to be worth $40 million, sources tell Variety.
Carmen J. Romano, of FBBM Entertainment Business Management, stated, “We are delighted to join forces with Larry [Mestel] and Primary Wave. The LV Estate’s goal is to see Luther’s legacy continue to flourish and believe the partnership with Primary Wave is a clear step in that direction.”
Larry Mestel, CEO & Founder of Primary Wave Music, expressed, “Luther Vandross was a soulful American icon who was the voice of a generation. We look forward to working with Carmen and the estate to help expand Luther’s influence.”
Over the course of Vandross’ 30-year career, the singer sold more than 40 million records globally, scored 11 consecutive platinum albums, released 13 studio albums, won eight Grammys, won three NAACP Image Awards, and more.
Vandross died on July 1, 2005, at the age of 54, due to a heart attack. Two years prior, he suffered from a severe stroke, which left him in a coma for two months.