Primary Wave is reportedly close to acquiring a significant stake in Notorious B.I.G.’s music catalog plus name and likeness rights in a deal that could be valued between $100 million and $150 million.<\/p>\n
That\u2019s according to The Hollywood Reporter, <\/i>which reported<\/a> on Friday (February 28), citing sources, that the deal is expected to close within weeks.<\/p>\n According to the report<\/a>, the deal is expected to “encompass 50% of both publishing and master rights, with the right of publicity included”.<\/p>\n According to The Hollywood Reporter, <\/i>citing “multiple sources”, publishing rights to the rapper’s catalog “are on the table for $100 million<\/strong>, as are master rights for a slightly higher price” of an additional $30 million to $50 million.<\/p>\n A source told the news outlet that the final price may be in the eight figures, not nine<\/p>\n Born Christopher Wallace <\/b>and also known as Biggie Smalls<\/b>, the Brooklyn rapper’s estate is represented by Mark Pitts <\/b>and Wayne Barrow<\/b>, co-founders of ByStorm Entertainment <\/b>who previously worked with Wallace at Bad Boy Records<\/b>. Primary Wave’s founder Larry Mestel <\/b>and partner Steve Greener <\/b>are reportedly leading the acquisition.<\/p>\n The deal comes shortly after the death of Voletta Wallace<\/b>, the rapper’s mother, who passed away<\/a> last week at age 78. She had been instrumental in managing her son’s legacy since he was killed in a shooting in 1997, producing a biopic for Wallace and overseeing the management of his estate.<\/p>\n Primary Wave, established in 2006 as an independent music publishing and talent management company, has built a portfolio that includes rights to works by Bob Marley<\/a>, Whitney Houston<\/a>, Stevie Nicks<\/a>, <\/b>and Luther Vandross<\/b><\/a>. The company’s strategy focuses on acquiring heritage artist catalogs as the valuation of music rights continues to surge.<\/p>\n Its recent moves include signing<\/a> a marketing and publishing administration deal with Grammy-winning songwriter and performer Jimmy Webb<\/b>, along with deals with the estate of country and folk singer-songwriter Jerry Jeff Walker<\/b><\/a>, Grammy-winning violinist Itzhak Perlman<\/strong><\/a>, Feels So Good <\/i>composer Chuck Mangione<\/strong><\/a>, and Extreme\u2019<\/strong>s Nuno Bettencourt<\/strong><\/a>.<\/p>\n The music catalog market has seen growth in recent years, with artists like Bruce Springsteen <\/b><\/a>and Bob Dylan <\/b>commanding deals worth in the hundreds of millions. Analysts project the publishing rights asset class could exceed $10 billion<\/a> <\/b>by 2030.<\/p>\n Wallace, regarded as one of hip-hop’s greatest artists, created some of the genre’s most popular tracks. His 1994 debut album Ready to Die <\/i>spawned hits like Juicy <\/i>and Big Poppa.<\/i><\/p>\n His posthumous sophomore album Life After Death<\/i> (1997) featured chart-topping tracks Hypnotize <\/i>and Mo Money Mo Problems, <\/i>earning multiple Grammy nominations. It was released two weeks after he was shot death in a drive-by shooting in Los Angeles.<\/p>\n Following his death at age 24, Wallace’s estate has generated revenue through licensing deals, merchandising, and posthumous releases. His legacy has been documented in the feature film Notorious <\/i>and in several documentaries. In 2020, he was inducted into the Rock and Roll Hall of Fame.<\/p>\n Warner Music Group<\/b> in December 2023 launched<\/a> a ’90s-inspired video game centered around the rapper in partnership with decentralized gaming virtual world The Sandbox. The immersive game, called Breakin\u2019 B.I.G., <\/i><\/b>places players in a neighborhood dominated by Wallace.<\/p>\n