In a rhythm that echoes the iconic beats of Michael Jackson, Sony Group has stepped into the world of pop music legends with a bold move. The conglomerate is acquiring a half interest in the late singer’s music catalog from his estate for a record-breaking sum of at least $600 million.
This acquisition, considered the largest deal of its kind, includes not only Jackson’s own songs but also potentially those of other artists under the Mijac publishing catalog. The deal encompasses ownership of master recordings and publishing for Jackson’s share of his songs, along with the Mijac catalog. Notably, Jackson’s estate had previously sold its half interest in Sony/ATV Music Publishing, which included the rights to the Beatles songs.
Despite his passing in 2009, Jackson’s legacy continues to resonate deeply with music lovers worldwide. The King of Pop remains one of the best-selling artists in pop music history, leaving behind a complex financial legacy of hundreds of millions in assets and debts.
In a harmonious synchrony with this deal, a new biographical movie titled “Michael” is set for release next year, promising to further immortalize Jackson’s unparalleled talent and impact on the music industry.
Sony’s acquisition of a half interest in Jackson’s music catalog is not just a business transaction; it’s a step into the heart of pop music history, where the rhythms of a legend continue to captivate audiences around the globe.
(Source: Billboard | NYT | Variety)
