| Courtney Sells A Portion Of Nirvana Rights |
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March 30, 2006
Courtney Love
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After the death of Kurt Cobain, his widow, Courtney Love, inherited 98 percent of Nirvana's publishing rights. Now Love has revealed to Rolling Stone that she sold 25 percent of her share to Larry Mestel of Primary Wave Music Publishing, former COO/GM of Virgin Records. Another source close to the deal told Rolling Stone that Mestel likely paid in excess of $50 million for the rights.
"I took on a strategic partner, Larry Mestel, to help me co-manage the estate because it was overwhelming," Love told the magazine. "The affairs of Nirvana are so massive and so huge, and they've all fallen on my lap. I own almost all of [the publishing], and it proved to be too much for me. I needed a partner to take Kurt Cobain's songs and bring them into the future and into the next generation. And this guy's the guy to do it."
Mestel added, "The appeal to me is that [Kurt was] one of the most important songwriters of his time. Kurt was an incredible songwriter, and Courtney is an exceptionally talented person herself. So I felt the combination of Courtney's creativity and the things I can add can really help in creating more value for these copyrights... My goal is to keep the music very true to who the songwriter was and what his passions and tastes would be, and to work through Courtney to figure out exactly the best way to go about exposing his music to a new youth culture to a new generation."
In other Courtney news, she also told Rolling Stone that Moby has agreed to co-produce her next album. "A long time ago, Moby was Christian, and I had this fantasy I was Mary Magdalene and he was Jesus," Courtney said. "I've always had a little crush on him, and I trust him. I'll talk all sort of shit, and he'll keep trying to focus me back on the music."
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