In a historic agreement, Sony Music Group is said to have acquired half of Michael Jackson’s discography. The late pop icon Michael Jackson’s estate is selling Sony Group a half stake in his music catalogue for at least $600 million, according to Billboard, making this the largest music catalogue acquisition ever. Citing unidentified sources, the music industry newspaper said that songs by other artists that are included in the Mijac publishing catalogue might also be included in the pact.
The Mijac catalogue and master recordings and publishing rights for Jackson’s portion of his songs are among the assets. The Beatles songs were published by Sony/ATV Music Publishing, a joint company in which Jackson’s estate had previously sold half of its stake.
Jackson, one of the best-selling pop musicians of all time, passed away in 2009, leaving a fortune in the hundreds of millions of dollars along with significant debts to pay off. A new biographical film on the singer, named, is slated for premiere in 2019. This information comes from Billboard.
Michael, a new biographical film on the artist, will be released the following year, according to Billboard. Billboard reports that the firm would pay at least $600 million (£475 million) for its publishing and recorded masters catalogue, which is valued at a total of $1.2 billion to $1.5 billion according to sources. Still, the precise number is unknown at this time.
Whatever the figure, the Jackson agreement is anticipated to be the highest valuation of a musician’s musical assets to date. For its published music, recorded music, and additional revenue streams including royalties from the Freddie Mercury film Bohemian Rhapsody, Queen is presently vying for a $1.2 billion valuation.
If these figures turn out to be accurate, this deal is anticipated to be the largest valuation of a musician’s musical assets to date. There are rumours that Sony’s agreement with the Michael Jackson estate excludes royalties from Broadway’s MJ The Musical and other plays that use the King of Pop’s compositions.
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