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By Chris Cooke | Posted on Friday, March 18, 2022
Prior to his deal with Irving Azoff’s Iconic Artist Group which was announced last week, Nat King Cole’s estate sold a stack of the late musician’s recordings to Universal Music, it has now emerged.
Cole had a long-standing relationship with Capitol Records, which was acquired by Universal when it bought the EMI record label in 2012. However, in the latter part of his career, the then-famous Cole brokered a deal with Capitol which allowed him to retain the rights to his later recordings, which he later licensed to the label.
According to Forbes, the estate sold those rights to Universal in a deal worth between $10 million and $20 million. This means that Cole’s entire catalog of recordings of around 400 titles is now owned by the major.
The estate’s deal with Iconic Artists Group also gives that company an interest in Cole’s music rights, though it’s presumably a royalty right on the recordings side, allowing it to collect all royalties. fees due on recordings controlled by Universal. Iconic will also manage Cole’s image and legacy.
Back at Universal, he also announced the release of a new Cole Rarities Collection which includes five recordings that have never been available for streaming before, including “The Magic Tree”, “Early American”, “The Day Isn’t ‘t Long Enough”. , “My first and my last love” and “Easter Sunday morning”.