Sharon Osbourne launches scathing Twitter attack on U2 about their 'mediocre' music and giving it away for free

Matthew McConaughey too expensive after Oscar win for sexy stripper sequel Magic Mike XXL

Courtney trades Kurt's rights for cash

2012-05-05 08:12
 
Los Angeles - Courtney Love no longer has control of Kurt Cobain's image rights.

The Hole singer agreed to hand over the rights to her late Nirvana singer husband's name, likeness and appearance to their daughter Frances Bean Cobain, 19, in 2010, documents obtained by website The Fix have revealed.

The documents show that Courtney agreed to step down as Acting Manager of End of Music (EOM) LLC - the business responsible for generating cash from the rocker's publicity rights - after she received a $2.75m loan from her daughter's trust fund.

The money was transferred to EOM and then put into an account in Courtney's then-attorney's name.

Until the loan is paid back, Courtney won't receive any money from the deals related to Kurt that have been formed by Frances and her advisers since December 2010, which means she could lose out on a fortune.

'Worth a fortune'

Jonathan Faber, an attorney and managing partner of Luminary Group, who once represented Kurt's estate in policing copyright infringement and investigating licensing opportunities, said: "Publicity rights are potentially worth a fortune. They amount to the intellectual property rights."

Under the deal, Frances has the final say in business agreements negotiated by EOM's current acting manager, David Byrnes, and Courtney remains a company member, though she has no decision-making power.

Courtney lost legal custody of her artist daughter in 2009 and was subsequently ousted as an adviser on Frances' trust fund.

Additionally, the Malibu hitmaker doesn't have any rights to Kurt's music.

The BMI catalogue shows Larry Mestel, of Primary Wave Music, owns all of the administrative rights, and so is the only person with the power to decide how the rocker's songs are used.

It is also believed Mr Mestel owns 50% of Kurt's publishing rights, but he has refused to confirm or deny the figure.

Kurt Cobain committed suicide in April 1994.

- BangShowBiz

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Add your comment
Comment 0 characters remaining
 

Recent Gossip

Gwyneth Paltrow and Chris Martin were reportedly asked not to transport their children to and from school on scooters. Read More »

Joan Rivers' daughter Melissa received a hand-written message of condolence from President Barack Obama following her mother's death. Read More »

inside channel 24

There are new stories on the homepage. Click here to see them.