Iconic Artists Group (IAG) has acquired a portion of the Frank Sinatra estate.
IAG founder Irving Azoff revealed the news about the legendary singer while speaking at Bloomberg’s Screentime Conference, held Oct. 8-9 in Los Angeles. As first reported by Bloomberg on Sunday (Oct. 12), Azoff said Iconic “recently acquired a chunk of the Sinatra estate.”
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Frank Sinatra Enterprises (FSE) confirmed the deal in a statement to Billboard: “Frank Sinatra Enterprises, Tina Sinatra, and Warner Music Group are delighted to welcome Irving Azoff and Iconic to the dedicated team serving the life’s work and legacy of Frank Sinatra.”
In 2007, Sinatra’s family and Warner Music Group (WMG) formed Frank Sinatra Enterprises, a global partnership to manage all aspects of Sinatra’s career, as well as his name and likeness. The deal also included ownership of Sinatra’s recordings from his Reprise era. Sinatra started Reprise, which is now owned by WMG, in 1960. FSE also represents Sinatra’s rights to his Columbia and Capitol catalogs.
It is unclear how much of the estate IAG acquired. Azoff declined to comment beyond his Screentime remarks, as did FSE beyond its statement. WMG also declined to comment.
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The deal comes nearly three years after Iconic made an agreement with the Dean Martin Family Trust to manage and expand the fellow Rat Packer’s legacy. The deal included name, image and likeness, as well as the trust’s share of Martin’s Capitol and Reprise Records sound recordings, feature films, and Martin’s variety shows and specials.
During Azoff’s Q&A at Bloomberg, moderator Lucas Shaw, Bloomberg’s managing editor of media and entertainment, also asked Azoff what he considers the most valuable catalog in the world. “I normally would have said The Beatles, but I’m not sure that’s true anymore,” Azoff said. “You maybe gotta say Taylor [Swift] at this point.”
IAG works with a number of other artists and estates, including The Beach Boys, Linda Ronstadt, Cher, Rod Stewart and Nat King Cole, among others. Azoff told Bloomberg‘s Shaw that The Beach Boys’ revenue has doubled since IAG got involved in their business.
