The deal, worth about $800-900 million, according to US media, will be the largest deal in the history of music catalog sales, which have become popular in recent years.
Sony and its possibly related financial partner – with no information about it – are negotiating with the singer’s estate to receive 50% of Jackson’s estate.
This includes broadcasting rights, revenue from recorded music, Broadway show. MJ: Musicallyupcoming biography Michaelas well as other possible assets.
Jackson’s solo career, who died in 2009, has always had Sony and CBS as the sole owners of the record catalog.
His musical legacy is one of the most lucrative in history, and in 2022 alone, Forbes magazine ranked Michael Jackson sixth on its “Highest Paid Celebrity Dead of 2022” list.
Sony has been involved in some of the biggest catalog sales in the industry to date.
The music company had previously bought the rights to American singer-songwriter Bruce Springsteen for a record $500 million.
The legendary songwriter also bought the rights to Bob Dylan’s record catalog after selling his publishing rights to Universal Music for around $400 million.
Other artists, such as Canadian Justin Bieber, who received nearly $200 million in a deal with Hipgnosis Songs Capital, have also decided to sell their music rights.
The same company also has the catalog of Shakira and Justin Timberlake, among others.
Source: Ultimahora
Source link
I’m George Gonzalez, a professional journalist and author at The Nation View. With more than 5 years of experience in the field, I specialize in covering sports news for various print media outlets. My passion for writing has enabled me to craft stories that capture the attention of readers all over the world.
