In Bankruptcy, Photo Archive Cuts Deal with Marilyn Monroe Estate
Sinking under legal bills, the Shaw Family Archives [SFA] has tentatively agreed to a 5-year, $3 million licensing deal with its arch-enemy–the estate of Marilyn Monroe–to pull itself out of bankruptcy. The deal would give the Monroe estate control over commercial licensing of hundreds of Monroe images shot by the late photographer Sam Shaw, and finally end protracted litigation between the two companies.
Under the terms of the proposal, the SFA would grant the Estate of Marilyn Monroe LLC “the sole and exclusive right and license” to exploit photographer Sam Shaw’s many images of Marilyn Monroe for commercial uses. The SFA would continue to license the Monroe photographs–including Shaw’s iconic “blowing skirt image of Monroe–for editorial, fine art and exhibition purposes.
Because the SFA filed for Chapter 11 bankruptcy protection last summer, the agreement with the Monroe estate is subject to approval by a federal bankruptcy judge. A ruling is expected later this month.
In court papers seeking that approval, the SFA says, “the Agreement is critical to the [SFA's] effective reorganization as it ensures the longevity of the [SFA] as a business by providing the [SFA] with tangible benefits, including: a minimum income that is more than the [SFA] has made in the last three (3) years…and ending most, if not all, of the litigation” between SFA and Monroe’s estate.
Melissa Stevens, operations manager for SFA, characterizes the deal as “a business arrangement that both parties feel will be mutually beneficial to the continued preservation and promotion of both Marilyn Monroe and Sam Shaw’s legacy.” (more…)




Subscribe to this blog