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Copyright and Transformative Fair Use

Patently-O

Warhol’s Estate argues that the artworks represent a commentary on the dehumanizing nature of celebrity whereas the Goldsmith photos merely reflect Prince in his unique human form. One reason why the magazine knew to reach-out to Goldsmith was that her photos had also previously been used as magazine cover-art.

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The clash of artistic rights: Warhol, Goldsmith, and the boundaries of copyright in Brazil and in the U.S.

Kluwer Copyright Blog

In 1984, Condé Nast, the publisher, obtained a license from Goldsmith to allow Andy Warhol to use her Prince portrait as the foundation for a single serigraphy to be featured in Vanity Fair magazine. In 2016, Condé Nast acquired a license from the Warhol Foundation to use the Prince Series as illustrations for a new magazine.