The Michael Jackson Estate is in the process of selling half of the singer’s music catalog in a deal worth between $800 million to $900 million.
- The Michael Jackson Estate is in the process of selling half of its interests in the singer’s music catalog, and sources say the buyer is Sony Records.
- The deal is to acquire half of Jackson’s publishing, recorded-music revenues, the MJ: The Musical Broadway show and the upcoming biopic Michael, and possibly more assets, according to Variety.
- Details have not been revealed of the deal, but it is said that Sony is working with a possible financial partner to negotiate the sale and acquire 50% of the catalog.
Why it’s news
The Michael Jackson Estate is in the process of selling half of King of Pop’s music catalog in a deal worth between $800 to $900 million—making it the biggest music catalog sale to date.
Details have not been released, but Sony and a financial partner may work together to acquire the music legend’s catalog, publishings, and other assets.
The music catalog market has been very popular lately, with many artists selling their catalogs for millions, but the Jackson deal would be the biggest—and it’s only a 50% stake. Sony has been behind multiple music catalog purchases dishing out millions for the music deals, but Jackson’s remains the largest deal.
Phil Collins, along with his Genesis bandmates Tony Banks and Mike Rutherford, recently sold their music catalog for $300 million while popstar Justin Bieber also sold the rights to his catalog for $200 million.
Bruce Springsteen and Bob Dylan sold their catalogs for $500 million and $300 million, respectively. Younger artists like John Legend and Iggy Azalea have also been cashing in on their products.
It has not been confirmed if a financial partner is helping Sony with the deal or who it is, but many think the partner is Eldridge Industries which has partnered with Sony to buy music catalogs.
Jackson’s catalog is known to be one of the best in the entertainment industry with hits, including his 1982 Thriller album, which is one biggest selling albums of all time and was the first to be certified 30-times platinum.
Jackson died in June 2009 of a drug overdose that was ruled a homicide.