Sony Spends $600 Million On Michael Jackson Music
Sony Group will be purchasing the music catalogue of superstar Michael Jackson for a minimum of $600 million, from the late pop icon’s estate.
Billboard has reported this is the company’s largest deal yet.
The agreement could also include songs from other artists that fall into the Mijac publishing catalogue.
Assets include ownership of master recordings, and publishing for Michael’s share of his songs, as well as the Mijac catalogue.
Earlier, the late singer’s estate sold its half interest in Sony / ATV Music publishing, a venture that included the Beatles songs.
Michael Jackson, one of the highest selling pop music artists, passed away in 2009, leaving an estate that’s worth hundreds of millions of dollars.
There were, however, large debts to work out.
Billboard reports a new biography film based on the singer, called ‘Michael,’ is set to be released next year as well.