Last year, nearly day to day, rumours were going around that the Michael Jackson Estate was in talks to sell half of its music catalogue for $800 to $900 million.
This is no longer a rumour but a fact. Sony Music has agreed to purchase half of Michael Jackson’s publishing and recorded masters catalog in a blockbuster deal valuing his music assets at over $1.2 billion, according to Billboard.
No exact figure is known at this time, but this means Sony will likely pay at least $600 million for its stake — though Billboard reports the valuation could be as high as $1.5 billion. Regardless of the number, the Jackson Estate deal is expected to be the largest-ever valuation of a musician’s music assets.
Sources confirm to Variety that the complex deal also includes assets from Jackson’s legendary Mijac publishing catalog, which includes other artists such as Sly & the Family Stone as well as hits written or performed by Jerry Lee Lewis, Jackie Wilson, Curtis Mayfield, Ray Charles, Percy Sledge, Dion and others. However, it does not include royalties from the “MJ” Broadway musical and other theatrical productions featuring the musician’s music.
During his career and life, Michael Jackson believed in owning his rights to his music and also believed in music publishing as a profitable tool as he purchased ATV. Now ATV is in full control of Sony as the Estate sold their shares in 2016 for a deal of $750 Million and today, half of the control of Mijac.
John Branca and A&R executive John McClain are expected to continue to stay involved as co-executors of the Michael Jackson Estate. The Sony/Estate deal also leaves in place Primary Wave’s stake, which is believed to be about 10% of Michael Jackson’s publishing assets. All parties, Sony, The Estate and Primary Wave declined to comment to the media.
It is unclear if this the deal that Katherine Jackson tried to blocked in court all last year. All court documents have been blocked out and under seal. A source close to the deal has mentioned that Michael’s three children have signed it off against Katherine’s wish.
We are not sure what it means for Michael Jackson’s music and future projects. But I am sure many of you will feel as I feel: sad and disappointed.
Michael was murdered so Branca could sell his catalog.
The timing of Michaels death just before he was due to a tour has always struck me as suspicious. He was not in best condition to do so and should have been helped to get better, not pressured to perform by AEG Live. AEG Live killed him prematurely which has helped many others whom now gain from his hardwork throughout his career. Just follow the money and you will find the people who gained falsely .
His catalog is worthy more than this. It starting to feel as though his children don’t have an ethic of working. They should be able to live off his royalties as he owns his on catalog against the very company he worked so hard to get away from.
His children do work.. and they were against this sale and on their Grandmothers side. Sadly Branca doesn’t care, they never consult the beneficiaries about anything, nor doI think their trust allowance is a great deal. Paris is a successful touring musician.. Prince and Bigi have other projects Prince is involved in many charities working to feed the less fortunate around the world, Bigi &Prince are involved in all the arts but they are passionate about directing & producing.. Bigi just finished a short film.
Don’t assume Michael’s kids are lazy trust fund kids.. They were raised by Michael and taught the importance f hard work and giving back.
It’s simply DISGUSTING what Branca & McClain are doing and basically crapping all over Mikes Beliefs, wishes and WILL.
I guess I got a lot to learn cuz I don’t understand how they can do that especially the family blocking this not blocking this other than his mom.
By the time Michaels kids get to 50 , the age he died, they will own nothing. They will just get an annual income with no control of what happens to Michaels music or videos. Michael fought hard for the ownership of HIS work so his kids would benefit . Is Katherine Jackson the only one who cares about what Michael wanted?
[…] a range of other songs were also auctioned late last year.• Sony Music buys stake in Michael Jackson’s music catalogue.• More details have […]