It will be the largest deal to date in the music catalog market
The executors of Michael Jackson’s estate are in the process of selling 50% of their rights to the legendary singer’s music catalog.
An agreement that, if reached, will reach the amount of 800 to 900 million dollars. As three sources confirmed to Variety, it will be the biggest deal to date in the music catalog market.
The sources also highlighted that Sony and a potential financial partner are negotiating to acquire 50% of publishing rights, revenue from the singer’s recorded music, the Broadway show ‘MJ: The Musical’ and the upcoming biopic ” Michael,” and perhaps other assets as well.
A financial source told Variety that Primary Wave Music already owns a stake in Jackson’s publishing catalog.
Notably, the singer died in 2009 at the age of 50, and his entertainment estate was firmly handled by his longtime attorney John Branca and John McClain.
RES-EMP
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I am Frederick Tuttle, who works in 247 News Agency as an author and mostly cover entertainment news. I have worked in this industry for 10 years and have gained a lot of experience. I am a very hard worker and always strive to get the best out of my work. I am also very passionate about my work and always try to keep up with the latest news and trends.
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