zorg wrote: Sun Mar 12, 2023 11:34 pm
numberthirty wrote: Sun Mar 12, 2023 8:18 pm
zorg wrote: Sun Mar 12, 2023 3:10 pm
Post-script…after a lifetime of fighting censorship and the industry,
his family sold all of his music, and even his name and likeness(!) to Universal.
It is worth noting that what is there in red in
not exactly a true statement.
Pray tell, I’m genuinely interested if there is a story here.
The "You Don't Really Want To Read Through All Of This..." version -
Obviously, the guy was aware that his number was up for a bit before he passed.
Apparently, he wanted his wife
not to take the whole thing over as a business once he was gone.
Once she did take it over and create the trust, there were seemingly some pretty dumb plays made. Suing to attempt to recoup what she believed to be digital issues that the trust was not being paid for and the like. If her oldest son is to be believed, the trust was actually millions of dollars in the red based on this alone.
Their mother passed a while back. From how things seem, she set the trust up so that the two younger children had a thirty percent stake each and the two older children had a twenty percent stake each. That would seem to check out based on some of the legal issues as far as the estate allowing the oldest son to use what the trust deemed "Trust..." property.
So, I get the feeling that it was most likely the kids with the larger stake in the trust making the call versus it being a "Family..." thing.