Nearly seven years after Michael Jackson’s untimely death, his estate has sold his 50 percent ownership of the Sony/ATV Music Publishing catalog over to Sony for $750 million.
The co-executors of MJ’s estate, John Branca and music executive John McClain, said in a statement, “This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children,” they wrote in a joint statement. “It also further validates Michael’s foresight and genius in investing in music publishing.”
The catalog includes none of MJ’s master recording nor song’s he wrote, but it includes tunes by The Beatles, Bob Dylan, Eminem, and Taylor Swift.
Sony Corp. President and CEO Kazuo Hirai added, “This agreement further demonstrates Sony’s commitment to the entertainment businesses and our firm belief that these businesses will continue to contribute to our success for years to come.”
Back in 1984, MJ purchased the ATV catalog for $41.5 million, eventually partnering with Sony and essentially owning half of the company.
There’s been speculation for years that his ownership of a significant portion of Sony’s catalog is the reason for his mysterious, questionable death.