Kurt Cobain's widow Courtney Love has told RollingStone.com that she has finally sold twenty-five percent of her share of NIRVANA's sought-after publishing catalog — to Larry Mestel of Primary Wave Music Publishing, former COO/GM of Virgin Records.
"I took on a strategic partner, Larry Mestel, to help me co-manage the estate because it was overwhelming," Love explained to RollingStone.com. "The affairs of NIRVANA are so massive and so huge, and they've all fallen on my lap. I own almost all of [the publishing], . . . and it proved to be too much for me. I needed a partner to take Kurt Cobain's songs and bring them into the future and into the next generation. And this guy's the guy to do it."
Mestel says his three-month-old company, Primary Wave, is thrilled to have bought into an American musical legacy. "The appeal to me is that [Kurt was] one of the most important songwriters of his time," Mestel said. "Kurt was an incredible songwriter, and Courtney is an exceptionally talented person herself. So I felt the combination of Courtney's creativity and the things I can add can really help in creating more value for these copyrights."
Though Love and Mestel declined to comment on specifics, a source close to the deal told RollingStone.com that Mestel has likely paid in excess of $50 million for the rights.
Read more at RollingStone.com.