Sony to buy Michael Jackson's huge stake in music catalog

[PartySick 161,502]

(Music news? Fix it if it's not right, please )

Michael Jackson's estate has agreed to sell its remaining stake in a lucrative music catalog to Sony Corp. for $750 million, the entities announced Monday.

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."

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Idk how I feel about this. His debt's been paid off through movie deals (countless documentaries and rights to his image), new music releases (Michael, Xscape), and rereleases of older music (Bad 25, Off The Wall, most likely a Dangerous 25 coming). I know it benefits his kids too but he wasn't even on speaking terms with Sony. Need I remind you of this:

Spoiler

 

This catalog was his most prized possession...I hate to see it go  I wish he was still around...

[dannydevito 10,658]

The family didn't even pay attention to one of Michael's last wills

[Serendipity 7,821]

Poor MJ

[PartySick 161,502]

2 minutes ago, dannydevito said:

The family didn't even pay attention to one of Michael's last wills

Well, it's his estate that's selling it, not his family. Though they benefit from it and could probably stop it if they wanted to  or at least I think so...

[dannydevito 10,658]

Just now, PartySick said:

Well, it's his estate that's selling it, not his family. Though they benefit from it and could probably stop it if they wanted to  or at least I think so...

They can, the problem is that they don't want to.

[mariomania1234 11,368]

12 minutes ago, PartySick said:

 

This catalog was his most prized possession...I hate to see it go  I wish he was still around...

*Sigh*... me too. I honestly don't know how to feel about this. I remember him saying they would eventually kill him for that catalog, or something like that.

[StarstruckIllusion 52,923]

Ever since this whole #FreeKesha thing, Sony has been getting alt of headlines here. 

 

 

how cute 

[sursumd 44]

The Michael Jackson estate gives no ****s about him or his legacy.

[RAMROD 109,884]

 

 

 

[Oprah Winfrey 315]

as a MJ fan i'm so sad , this is horrible

[Bloody 64,631]

that's pretty sad

[Pablo 7,859]

I don't fully understand. He owned part of Sony, a large amount, and now they are selling his amount back to Sony?

[malazam 15,710]

Can someone explain it to me? What catalog??

Sony sucks to be honest, they keep making money over his death and they've don't even let us comment his videos.

[RAMROD 109,884]

Just now, malazam said:

Can someone explain it to me? What catalog??

Sony sucks to be honest, they keep making money over his death and they've don't even let us comment his videos.

It is mentioned on OP.

"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."

 

MJ bought rights of these artists catalogs when he was alive. Especially The Beatles ones, are very prized.

[malazam 15,710]

4 minutes ago, RAMROD said:

It is mentioned on OP.

"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."

 

MJ bought rights of these artists catalogs when he was alive. Especially The Beatles ones, are very prized.

Taylor? What?

so they're buying them to have the rights over that songs??