New Company to Manage and Preserve Legacy of the "Chairman of the Board"LOS ANGELES, CA, Nov 28, 2007 -- Warner Music Group Corp. (NYSE: WMG) and the family of Frank Sinatra
announced today that they have established a worldwide partnership to
integrate content, rights management and the preservation of the
legendary entertainer's inspirational personality and prodigious body
of work under a single entity.
The partnership will operate under the name Frank Sinatra Enterprises
(FSE) and 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.
FSE will own Sinatra's recordings from the Reprise era as well as a
treasure trove of films, television specials and unreleased footage,
photos and audio recordings, which collectively represent one of the
foremost bodies of artistic work of the modern era. FSE will also own
and manage Sinatra's name and likeness rights and will represent the
artist's rights to the Columbia and Capitol catalogues. The Frank
Sinatra Foundation, a not-for-profit 501(c)(3) organization will
continue under the family's aegis.
FSE intends to pursue innovative new product and venture
opportunities with respect to the legendary entertainer's name and
likeness, as well as for the audio and visual content, which it will
administer.
"Because it was most important to our family to preserve and honor
his legacy, we were extremely selective in choosing a partner with
whom to manage our father's life work. It was a process that took
several years," stated the Sinatra family, represented by Nancy, Tina
and Frank Sinatra, Jr. "Our father founded Reprise Records almost 50
years ago; we have worked with Warner Music Group for many years, and
we are thrilled to continue the journey with them and the new company
into the future."
"Frank Sinatra created one of the most enduring and influential
bodies of work the world has ever experienced and we consider it a
great privilege that his family has decided to significantly expand
and enhance our relationship," said Edgar Bronfman, Jr., Chairman and
CEO of Warner Music Group. "Over the past several years WMG has
transformed itself from a traditional music company to an
organization that can manage virtually every facet of an artist's
brand or career. So it is a particular honor that through this joint
venture we'll be able to manage, with the Sinatra family, the legacy
of not only one of our greatest artists, but as founder of Reprise
Records, one of the creative cornerstones of our company."
"Frank Sinatra is an icon known the world over. We are extremely
honored to continue working with the Sinatra family to preserve and
expand his rich legacy," says Scott Pascucci, president of Warner
Music Group's Rhino Entertainment.
Representatives from the Sinatra family and Warner Music Group will
jointly manage FSE, with day-to-day operations being handled by Rhino
executives Jimmy Edwards and Gregg Goldman along with Sinatra
archivist/producer Charles Pignone, who will report to co-chairs Scott
Pascucci and Robert A. Finkelstein. Additionally, Tina Sinatra and
Edgar Bronfman, Jr. will sit on the Board of Directors.
One of the most important pop culture figures of the 20th century,
Frank Sinatra's career spanned many disciplines. As a recording
artist, actor, cabaret and concert star, radio, film and television
personality, and occasional producer, director and conductor, Frank
Sinatra's achievements earned him three Oscars, two Golden Globes, 10
personal Grammys (and a total of 21 including those for his albums),
an Emmy, a Cecile B. DeMille Award, and a Peabody. One of the most
prestigious awards Sinatra received was the Jean Hersholt
Humanitarian Award by the Motion Picture Society of America. This
award, presented only a few times in the Academy's history, is given
to an "individual in the motion picture industry whose humanitarian
efforts have brought credit to the industry." Sinatra's charitable
legacy is legendary. His pioneering fight against prejudice is one of
the important facets that shaped his life from childhood on the
streets of Hoboken, New Jersey. His short film, "The House I Live In"
received a special Oscar in 1945.
Throughout his 60-year career, "Ol' Blue Eyes" demonstrated a
remarkable ability to thrive in changing times, moving deftly from the
swing era to the rock-and-roll era. He performed on more than 1,400
recordings, was awarded 31 gold, nine platinum, three double platinum
and one triple platinum album by the Recording Industry Association
of America. He also appeared in 58 films, and produced eight motion
pictures. Frank Sinatra was awarded Lifetime Achievement Awards from
the Grammys, The Screen Actors Guild, The Kennedy Center and the
National Association for the Advancement of Colored People (NAACP),
as well as the Presidential Medal of Freedom and the Congressional
Gold Medal, and remains a legend and inspiration to thousands for his
contributions to culture and the arts.
Frank Sinatra began the golden age in which American popular music
became a universal language and this extraordinary creative genius is
its most articulate spokesman worldwide. Sinatra's contribution to
our life and times extends far beyond his music, to embrace an
exuberance, a zest for life, a sense of style and a glorious
self-confidence that define, for all time, what it meant to be young
at heart and have the world on a string. His spirit and vision
continue to be defined by the wisdom and insight from the legacy of
work he left behind.
FSE was represented by the law firm of Proskauer Rose LLP and The
Salter Group. WMG was represented by the law firm of Gibson, Dunn and
Crutcher.
About Warner Music Group
Warner Music Group became the only stand-alone music company to be
publicly traded in the United States in May 2005. With its broad
roster of new stars and legendary artists, Warner Music Group is home
to a collection of the best-known record labels in the music industry
including Asylum, Atlantic, Bad Boy, Cordless, East West, Elektra,
Lava, Nonesuch, Reprise, Rhino, Roadrunner, Rykodisc, Sire, Warner
Bros. and Word. Warner Music International, a leading company in
national and international repertoire, operates through numerous
international affiliates and licensees in more than 50 countries.
Warner Music Group also includes Warner/Chappell Music, one of the
world's leading music publishers, with a catalog of more than one
million copyrights worldwide.