Sony has finally gotten its wish to own a major stake in Michael Jackson's music catalog.
Sony Music Group will pay $600 million for a stake in the late pop star Michael Jackson's master recording catalog and publishing rights, Billboard reported.
Jackson's estate was generating approximately $75 million annually from Jackson's copyrights and master catalog.
If Jackson were alive, Jackson himself would be angry about the deal, considering that in 2002, Jackson called out Sony for “trying to destroy him.”
Jackson gloated that Sony was angry with him for owning “half of Sony Publishing” and continued to call Sony's CEO at the time, Tommy Mottola, “the devil.”
He watches:
Sony Music buys half of Michael Jackson's catalog for more than $600 million, and his music catalog becomes the most valuable in history, worth between $1.2 and $1.5 billion.
Let's not forget that he fought hard for this not to happen. Michael Jackson revealed Tommy Mottola and… pic.twitter.com/LpFJQBCoUS
-JR (@jamster83) February 9, 2024
For each plate:
In what could be the largest ever valuation of a musician's music assets, Sony Music Group has entered into an agreement to buy half of Michael Jackson's publishing and master record catalog in a deal that sources say values those music assets at more than $1.2 billion. Other sources indicate that the amount may reach $1.5 billion. At those valuations, Sony will pay at least $600 million for its share of the legendary rights.
This means the Jackson deal, which was struck late last year, has a valuation greater than the $1.2 billion Quinn is currently seeking. While Queen's valuation, sources say, includes royalties from income sources outside of masters and publishing, including from a Freddie Mercury autobiography, Bohemian Rhapsody, and theatrical productions using Queen's music, Sony's deal with Michael Jackson's estate does not include royalties from theatrical Broadway and other theatrical productions featuring Jackson's music.
However, it may not be just Jackson's music that's in on the deal. Sources say the current deal includes non-Jackson-written songs in Mijac's publishing catalogue, which also includes the Sly & the Family Stone publishing catalog of approximately 250 songs as well as popular songs written and/or performed by Jerry Lee Lewis and Jackie Wilson. Curtis Mayfield, Ray Charles, Percy Sledge and Dionne.
Michael Jackson is turning over in his grave. He despised Sony Music. pic.twitter.com/3dX1eDLci8
– My name is my name (@ctreid89) February 10, 2024
