Share of Michael Jackson catalog sold to Sony, worth $1.2 billion

In what it is In possibly the biggest deal of a solo musician's career, Sony has completed a deal to acquire half of Michael Jackson's publishing and record labels.

The deal values ​​the music assets at more than $1.2 billion, sources said Advertising sign. The outlet also estimated that Sony will pay at least $600 million for its stake. Representatives for Jackson's estate did not immediately respond rolling rocks request for comment.

Last February, Variety reported that the Jackson estate was in negotiations to seek $800-$900 million for half of its interests in the singer's music catalog. At the time, Billboard estimated the estate was earning about $75 million a year, with assets that include ownership of master recordings, publications on Jackson's share of songs, the singer's catalog of Mijac releases and royalties from theatrical performances based on the iconic score. of.

In 2016, 21 years after Jackson and Sony founded Sony/ATV Music Publishing, Sony bought half of his company in a deal that netted Jackson $750 million. Jackson first acquired ATV Music Publishing, which owned the publishing rights to the majority of the Beatles' music, in 1985 for $41.5 million. The singer merged his stake in ATV with Sony Music to form Sony/ATV eleven years later.

Although Jackson's legacy has faced multiple allegations of child sexual abuse, he continues to be one of the best-selling artists of all time. These claims came under renewed scrutiny following the release of the HBO documentary in 2019, Leaving Neverland, in which Wade Robson and James Safechuck alleged that Jackson, who died in 2009, groomed and sexually abused them for years when they were boys. Jackson and his estate have repeatedly denied the allegations.