According to Billboard, the new arrangement states that select works from Prince catalog will be reissued distributed by Legacy Recordings. Worldwide rights begin immediately for Prince's album releases from 1995-2010, with more coming in the future.
The albums featured in the first phase of re-releases include 'The Gold Experience', 'Emancipation', 'Rave Un2 The Joy Fantastic', 'The Rainbow Children' and '3121', plus the albums that were originally released via Sony through Columbia, 'Musicology' and 'Planet Earth'.
The albums are just part of the deal, as the agreement also includes rights to other previously released singles, B-sides, remixes, non-album tracks, live recordings and music videos recorded before 1995.
A large portion of the material will be released in future years, like in 2021 when Sony/Legacy's distribution rights grow to include 12 more Prince non-soundtrack catalog albums from the 1978-1996 era for distribution in the United States. Titles under the agreement from this period include 'Prince', 'Dirty Mind', 'Controversy', '1999', 'Around the World in a Day', 'Sign 'O' the Times', 'Lovesexy', 'Diamonds and Pearls' and '[Love Symbol]'.
SME Commercial Music Group President Richard Story expressed his excitement via a statement:
"A true artist and visionary, Prince changed the world with his music, bringing love, joy and inspiration to millions. Sony Music is honored to play a part in keeping Prince's music alive and making it available for generations of lifelong listeners and future fans."
Prince estate entertainment adviser Troy Carter touched on why Sony is the right fit for re-releasing the music:
"The Sony team's enthusiasm and deep knowledge of Prince's music make them the ideal partner to release these iconic bodies of work. We're looking forward to working with the heirs and Sony on giving fans what they've been waiting for -- more great music from Prince."
In other Prince related news, Jay-Z is producing the next Prince album featuring never before heard material that will apparently be released on the artist's 60th birthday. Also, another copy of Prince's rarest and most expensive album of all time was found and is to be believed as the only Canadian copy. Listen to a previously unheard version of 'Nothing Compares 2 U' here.