Sony Buys Michael Jackson’s Stake In Iconic Music Catalog For $750 Million

| March 15, 2016 | 0 Comments

michaeljacksoncatalogCapture

Via Associated Press,

Michael Jackson’s estate recently made a deal to sell its stake in some of the world’s most iconic songs for nearly $750 million. Some of these classic hits come from the Beatles, the Rolling Stones, and Taylor Swift.

The agreement for Jackson’s half-share of the Sony/ATV Music Publishing catalog will give the company sole ownership of works by The Beatles, Bob Dylan and other hit making musicians, including Eminem and Taylor Swift.

The sale does not include rights to Jackson’s master recordings or songs that he wrote, and the singer’s estate will continue to have a stake in EMI Publishing, Inc.

“This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children,” the co-executors of Jackson’s estate, attorney John Branca and music executive John McClain, wrote in a statement. “It also further validates Michael’s foresight and genius in investing in music publishing.”

Jackson purchased the ATV portion of the catalog in 1985 for $41.5 million, and he later merged it with Sony. It remained his most lucrative asset at the time of his death in June 2009 at age 50, though by that point Jackson was hundreds of millions of dollars in debt.

The deal for Jackson’s half of the Sony/ATV catalog is expected to close by the end of March.

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Category: Celebrity news

About the Author ()

Darnell Moore has extensively studied music and urban culture both academically and professionally for over 20 years. His writings and posts have appeared in many major urban publications. Moore is the founder and creator of Memoirs of an Urban Gentleman. Contact him , http://darnellmmusic@gmail.com/ or https://twitter.com/@darnellmmusic/

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