Primary Wave is reportedly close to acquiring a major stake in Notorious B.I.G.’s catalog and publicity rights in a deal valued between $100 million and $150 million. Sources told The Hollywood Reporter that the deal could be finalized within weeks.
The transaction is expected to cover 50% of the late rapper’s publishing and/or master recording rights, along with name, image, and likeness rights. A source noted the final price may land in the eight-figure range rather than nine.
Born Christopher Wallace, the Brooklyn rapper’s estate is overseen by Mark Pitts and Wayne Barrow, who previously worked with him at Bad Boy Records. Primary Wave’s founder Larry Mestel and partner Steve Greener are reportedly leading the acquisition.
The deal follows the recent passing of Voletta Wallace, Biggie’s mother, who managed his estate since his 1997 murder. Primary Wave, known for acquiring rights to artists like Bob Marley and Whitney Houston, continues expanding its portfolio as music catalog valuations rise.
Wallace’s legacy remains strong, with his estate generating revenue through licensing, merchandising, and posthumous releases. In 2020, he was inducted into the Rock and Roll Hall of Fame. Warner Music has also launched projects like a ’90s-inspired video game and a visual podcast series about his final album.
