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Michael Jackson’s estate hits bonanza as family sells catalog

Michael Jackson

Photo credit: Vicki L. Miller / Shutterstock.com

Michael Jackson was the world’s most famous entertainer until his untimely death in 2009 due to a drug overdose. He was known not only for his musical and dancing abilities but also his legendary investment skills. In 1985, Jackson purchased a music catalog that included hit songs by the Beatles for $41.5 million. Jackson later merged this catalog with Sony in a lucrative partnership that was known as the ATV catalog. At the time of Jackson’s death, there was much speculation regarding his actual wealth. The singer carried an enormous amount of debt from his lifestyle choices as well as supporting members of his family. But Jackson reportedly told many people that he believed people were out to get him because of his record catalogue.

It has now been announced that the estate of Michael Jackson has agreed to sell half-share in the catalog to Sony for a whopping $750 million deal. This now gives Sony exclusive rights to the music of such artists as The Beatles, Bob Dylan, Eminem, Alicia Keys, Taylor Swift and many others. Jackson’s estate has as its beneficiaries his mother Katharine Jackson and his children Prince, Paris and Blanket.

Sony Corp. President and CEO Kazuo Hirai wrote 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. “

The executors of Jackson’s estate are quoted as saying, “This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children. It also further validates Michael’s foresight and genius in investing in music publishing.”  The sale did not include Jackson’s master recordings or any songs that he wrote. The estate also has a significant share in EMI Publishing, Inc.

 

 

 



6 Comments

  1. jazzygirl on March 15, 2016 at 5:33 pm

    please, without this sale, Michaels children would would still be financially secure for the rest of their lives….this move here was sony lookin out for sony, and the Jackson estate executors looking out for themselves, cause we all know they will get a hefty percentage out of this sale……….smdh

  2. Paytc on March 16, 2016 at 9:17 am

    It worked. Sony was after the catalog all while Mike was alive, but he wouldn’t give it up. So the pressure was put on Mike and the rest is history. Just proves you can’t take the money with you but you can leave a legacy of music they can’t take back, and you can take your dignity with you (unless your a corporate vulture). MJ went as high as you can go as an artist to a corporate executive. And he became the greatest performing/ recording artist in the existence of human kind without selling out. He positively changed the lives of millions world-wide. A job well done Michael Jackson. Thanks for giving so much !

    • guest on March 16, 2016 at 1:24 pm

      Many believe he was murdered for this.

      • Paytc on March 17, 2016 at 12:23 pm

        Perhaps? I’m not sure. There was definitely a lot of greed, power struggle, and hating going on. Every good person will eventually pass on. But Mike lived, and will continue to live as the greatest performing/recording artist ever. No one can murder that !

      • Paytc on May 9, 2016 at 9:30 pm

        Perhaps? Not sure….. but hate and greed were definitely somewhere in the picture. Sorry for responding so late. Now Prince too has passed. The 3 greatest performing artist I’ve ever witnessed James Brown, Michael Jackson, and now Prince, are all no longer physically with us.

  3. sugarntasty on November 14, 2016 at 11:14 pm

    Simply how much to discuss,without social fuss siblings. Greedy relatives to receive they’ll never tell?