Sony has agreed to acquire half of the artist's publishing catalog and recorded masters
In what is Probably the largest transaction for a solo musician's entire body of work, Sony has struck a deal to acquire half of Michael Jackson's recorded editions and masters.
The deal values the music assets at more than $1.2 billion, sources said. Billboard. The outlet also estimates that Sony will pay at least $600 million for its stake. An attorney for Jackson's estate declined to comment. rolling stone.
Last February, Variety reported that Jackson's estate was in negotiations to obtain between $800 million and $900 million for half of its interest in the singer's music catalog. At the time, Billboard estimated that the estate earned about $75 million a year, with assets including ownership of master recordings, Jackson's publishing of his songs, the singer's Mijac publishing catalog and royalties from theatrical performances based on his iconic music.
In 2016, 21 years after Jackson and Sony formed Sony/ATV Music Publishing, Sony bought back his half of the company in a deal bringing $750 million to Jackson's estate. Jackson first acquired ATV Music Publishing, which held 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 been the subject of numerous child sexual abuse allegations, he continues to be one of the best-selling artists of all time. These claims came under renewed scrutiny following the 2019 release of the HBO documentary, Leave Neverland, in which Wade Robson and James Safechuck claimed 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.
This article was updated at 12:44 a.m. ET on February 10, 2024 to include a representative for Jackson's estate who declined to comment.