asset managers michael jackson They are closing a deal for the sale of half of their interests in the megastar’s music catalogue, in an agreement worth 900 million dollars, according to the specialized media Variety.
The sale, to Sony and a potential financial partner, could include a share of the singer’s publishing rights and recorded music revenue, as well as the Broadway show “MJ: The Musical” and an as-yet-unmade biopic.
If it goes through, it could be the biggest deal yet in the booming music catalog market, which has already seen amazing deals.
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These include the sale of the later publishing rights and recorded music of Bruce Springsteen for $600 million – also to Sony – and the Universal Music deal to buy Bob Dylan’s recorded music catalogue.
Last month, pop giant Justin Bieber sold a stake in his released music and recording catalogs to Hipgnosis Songs Capital for $200 million.
Variety, citing three unnamed sources, said the identity of Sony’s partner in the deal – or even its existence – was not entirely clear.
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Michael Jackson, who died in 2009 after decades of performing and recording, has one of the most lucrative catalogs in music.
His 1982 album “Thriller” is one of the best-selling albums of all time.
Source: AFP
Source: Gestion
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