Warner Music Group and the family of the late Frank Sinatra have formed a joint venture to continue the business of Frank Sinatra.
The new company will be known as Frank Sinatra Enterprises.The JV will manage Sinatra content and music rights to preserve the legacy of the music legend.
FSE will own the Sinatra Reprise catalogue as well as films, television specials and unreleased audio recordings.
"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," said the Sinatra family, represented by Nancy, Tina and Frank Sinatra, Jr. in a statement. "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."
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.
"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."
