Prospect Park's Splinter: Where Azealia Banks, Backstreet Boys and Korn Have Landed
The contentious December collapse of the 25-year business relationship between former Prospect Park associates Peter Katsis and Jeff Kwatinetz put most of the music artists under the firm's management banner into play, and the acts have chosen their destinations.
Sources tell Billboard that Katsis initially was girding for a court battle, but the time and expense it likely would have incurred led him to settle in February. Consequently, he will continue to manage Jane's Addiction, the band's lead singer Perry Farrell and Farrell's businesses (including Lollapalooza), as well as Smashing Pumpkins and new signing The Joy Formidable. The Pumpkins were at the center of the split, with one source telling Billboard that Katsis spent "90 percent of his time" on the group, a claim that Katsis disputed.
Backstreet Boys have gone to Ron Laffitte at Maverick (home to Pharrell Williams, Madonna and Paul McCartney), and Korn to Roc Nation (Jay Z, Kanye West and Rihanna). Reps confirmed the moves for all acts except Korn; Roc Nation had not commented at press time.
Billboard reached Katsis in South America on the Lollapalooza tour, but he declined to comment, as did a rep for Prospect Park.
This article first appeared in the April 4 issue of Billboard.