Warner Music Group and the family of Frank Sinatra have formed a joint venture to manage the global licensing of music, film and merchandise involving the singer's work, name and likeness.
Among other things, Frank Sinatra Enterprises will manage content from more than 50 albums by the singer originally released on Warner's Reprise label.
The firm is particularly keen in mining revenue from online and other forms of new media.
Sinatra's ties to Warner date back to the 1950s, when and Warner Bros co-launched the Reprise label. In 1963, Warner bought out Sinatra's stake in the label, with the entertainer recovering ownership of his master recordings.
Since then, Warner has paid Sinatra or his estate for the rights to issue albums based on his master recordings. Under the terms of the joint venture, Warner gains a 50 per cent stake in Sinatra's masters.