Courtney Love, 98% owner of the group Nirvana's work, sold a 25% stake in the material to record industry veteran Larry Mestel. According to Rollig Stone magazine the deal was worth over $50 million.
When her late husband Kurt Cobain killed himself in 1994, she inherited the great portion of the work which according to Love has been "overwhelming" to deal with.
She said that "The affairs of Nirvana are so massive and so huge, and they've all fallen on my lap."
She added that she had need of a partner that would be able to bring the group's songs "into the future."
Love also said that she would assure the fans that the music of the group would remain "tasteful" and that the music would go to places that it had "never been before." Also that "the spirit" of the group would be retained.
Larry Mestel is the former general manager of Virgin Records and set his interest in the catalogue stems from his belief that Cobain was "one of the most important songwriters of his time".
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