SONY Group is acquiring a half interest in pop star Michael Jackson’s music catalog from the late singer’s estate for at least $600 million, Billboard reported, saying it’s the largest such deal ever.
The agreement may also include songs from other artists that are part of the Mijac publishing catalog, the music industry publication reported, citing sources it didn’t identify.
The assets include ownership of master recordings and publishing for Jackson’s share of his songs, as well as the Mijac catalog. Jackson’s estate had earlier sold its half interest in Sony/ATV Music Publishing, a joint venture that included the Beatles songs.
Michael Jackson, one of the top selling artists in pop music, died in 2009, leaving an estate worth hundreds of millions of dollars but large debts to work out.
According to Billboard, a new biographical movie on the singer, titled Michael, is scheduled for release next year. — Bloomberg