Jay Z is reportedly looking to purchase the unreleased music from Prince’s legendary vault at Paisley Park.
According to TMZ, Young Hov met with Prince’s only full sibling Tyka and her husband Maurice Phillips weeks ago to discuss the deal. He reportedly flew the couple to New York for the meeting.
Insiders say Jay made an offer of $40 million. However, Tyka doesn’t have full rights to sign-off on a deal of that magnitude. Instead, it needs to be approved by all of Prince’s siblings and the trust managing the late star’s estate.
Jigga is still trying to get a deal for streaming rights on that material, but other “major players” are also in the same fight, according to the report.
Prior to his death, Prince’s music was exclusively streaming on TIDAL. In December 2015, he told Ebony why he sided with Jay Z in the streaming wars.
“HITNRUN sounds like today,” he said of his 2015 album. “TIDAL is sinking money into it and they need it. And my heart is always on because I want them to do well. [Beyoncé and Jay Z] have taken a lot of abuse, their family has. A historic amount of abuse between the two of ’em. And when we win on this, none of us’ll gloat. He’s not the gloating type anyway. He’s slick with his. He says to brush the dirt off your shoulder.”
Following the Purple One’s passing, Jay rapped about his exclusivity with TIDAL on “All the Way Up (Remix).” “Prince left his masters where they safe and sound,” he rhymed. “We never gonna let the elevator take us down.”