The moment that Jay Z had the opportunity to, he put a bid out of $40 million in hopes of getting his hands on Prince's vault of unreleased music, following the Purple One's untimely death earlier this year.
Unfortunately, Hov lost the battle over Prince's highly coveted private collection of never-before-heard music, with Universal Music Publishing Group instead gaining control. That being said, the Tidal boss still has the rights to the music that was previously released, which was something that was mutually agreed upon between Jay Z and Prince while Prince was still with us.
Prince's estate, however, doesn't agree with how the situation unfolded and is reportedly taking action against Hov's decision to allow the music to be streamed on Tidal.
As reported by TMZ, the estate said they will not allow "Roc Nation to exploit any of the intellectual property assets of the Estate."
According to the report, the estate is calling Jay's decision to have 15 albums from Prince's catalog available on Tidal as "unauthorized," which in short means that Hov may have to now pay up.
Additionally, the estate reportedly is aware of the deal that Prince made with Jay Z, but is claiming they haven't yet found proof of a $750,000 payment to finalize the agreement.
More on this story as it develops.
(Photos from the left: Mike Coppola/Getty Images, Carlo Allegri/Getty Images)