Michael Jackson’s Estate to Sell His Music Catalog to Sony for $750 million

Michael Jackson’s estate has agreed to sell its remaining stake in a lucrative music catalog to Sony Corp. for $750 million, the entities announced Monday.
The agreement for Jackson’s half-share of the Sony/ATV Music Publishing catalog will give the company sole ownership of works by The Beatles, Bob Dylan and other hit making musicians, including Eminem and Taylor Swift.
The deal is another posthumous blockbuster deal for Jackson, whose estate has erased the singer’s massive debts through a mixture of new music, movie ventures and re-releases of the singer’s most popular music. Jackson’s estate benefits his mother and three children, Prince, Paris and Blanket.
The sale does not include rights to Jackson’s master recordings or songs that he wrote, and the singer’s estate will continue to have a stake in EMI Publishing, Inc.
“This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children,” the co-executors of Jackson’s estate, attorney John Branca and music executive John McClain, wrote in a statement. “It also further validates Michael’s foresight and genius in investing in music publishing.”
The deal for Jackson’s half of the Sony/ATV catalog is expected to close by the end of March.