The Michael Jackson Estate is in the process of selling in a deal estimated at between $800-$900 million.
In the exclusive report by Variety the Michael Jackson estate is in the process of selling half of its interests in the King of Pop’s music catalog in a deal worth just under a billion dollars.
The outlet said three sources confirmed that Sony Music and another possible financial partner are negotiating to acquire 50% of the estate’s interests in Jackson’s publishing, recorded-music revenues, the “MJ: The Musical” Broadway show and the upcoming biopic “Michael”, and other possible assets.
This makes sense as Sony was Jackson’s long-term label for the totality of his career. Variety pointed out that Sony has been involved in some of the biggest previous known catalog deals, having acquired Bruce Springsteen’s publishing and recorded-music catalogs for a price that was estimated at $600 million.
Jackson’s recorded-music catalog is reportedly one of the most lucrative in history. His 1982 “Thriller” album is one of the two biggest sellers of all time and was the first album to be certified 30-times platinum.
Jackson “The King of Pop”, died aged 51 and was regarded as one of the most significant cultural figures of the 20th century.
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