Michael Jackson's Stake in Music Venture Goes to Sony in $750M Deal


Michael Jackson's Stake in Music Venture Goes to Sony in $750M Deal


The estate of the King of Pop has sold his stake in the Sony music catalog to Sony Corporation for $750 million.
Michael Jackson's estate has agreed to sell his remaining stake in the Sony/ATV Music Publishing catalog to Sony Corporation for $750 million. The lucrative deal will give Sony sole ownership of works by The Beatles, Bob Dylan and other hit making musicians, including Eminem and Taylor Swift.

Sony Corp. president and CEO Kazuo Hirai said in a statement, "This agreement further demonstrates Sony's commitment to the entertainment businesses and our firm belief that these businesses will continue to contribute to our success for years to come."

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

The sale does not include rights to Michael's master recordings or songs that he wrote. The estate of the King of Pop will continue to have a stake in EMI Publishing, Inc.

Michael's estate has paid all of his massive debts through a mixture of new music and movie ventures and re-releases of his most popular music. It benefits his mother and three children, Prince Jackson, Paris Jackson and Blanket.

Michael bought the ATV portion of the catalog in 1985 for $41.5 million, before he merged it with Sony. The deal for the Sony/ATV catalog is expected to close by the end of March.


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