Who says the music business doesn’t pay? Warner Music Group cut a check for $50 million dollars to Frank Sinatra last year — and the Chairman’s been dead since 1998.
WMG disclosed the payment, made to Frank’s estate in November, in its earnings release this morning. WMG and the estate had previously said they were forming a JV called Frank Sinatra Enterprises, but hadn’t disclosed financial details. The JV will “manage all aspects of Sinatra’s artistic contribution to music, film and stage. FSE will also administer all licenses for the use of Sinatra’s name and likeness.”
That payout should be enough to put Frank atop of Forbes’ annual list of top-earning dead celebrities: Last year Forbes guesstimated that list-topper Elvis had generated $49 million.
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