Courtney Love Already 'Lost About $27 Million' Of Her 'Nirvana Money'
After Cobain committed suicide in 1994, Love inherited his writing and publishing rights which were valued at $130 and $115 million, respectively. In 2006, Love "finally and officially" sold 25% of her share of Nirvana's publishing rights.
But in a new interview with the UK's Sunday Times, the 50-year-old rocker reveals, "I lost about $27 million" of "Nirvana money."
"I know that's a lifetime of money to most people, but I'm a big girl," Love explained. "It's rock 'n roll, it's Nirvana money, I had to let it go. I make enough to live on, I'm financially solvent, I focus on what I make now."
Love says that the majority of lost millions went towards settling several lawsuits over the years, including a legal battle between Love and the surviving members of Nirvana over the band's unreleased material and a Twitter defamation suit.
Love, who is estranged from her daughter Frances Bean, also sets straight rumors that the 21-year-old has executive control over the Nirvana brand.
"There's this myth out there - put out by Frances' lawyers - that Frances runs the catalogue, which is absolute nonsense," Love revealed. "When she's 40, she becomes a member of the board and she has a vote, but not now."
In the meantime, Love says she is preserving the Nirvana song catalog from becoming too commercial or cheesy.
"I've protected it [the Nirvana catalogue] from everything from Kentucky Fried Chicken commercials to movies about board games," Love told the paper, as reported by UsWeekly. "We've been offered $6 million for 18 seconds of one Nirvana song and I turned it down."