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The Michael Jackson estate just got a little richer—well a whole lot richer. Sony just purchased MJ’s music catalog got $750 million dollars. Sony will now be the sole owner of music by The Beatles, Bob Dylan, Eminem and Taylor Swift. And Jackson’s estate is now out of debt.”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,” Sony Corp. president and CEO Kazuo Hirai wrote in a statement via USAToday.
Michael’s co-executors attorney John Branca and music executive John McClain added, “This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children. It also further validates Michael’s foresight and genius in investing in music publishing.”
Sony does not have rights to MJ’s master recordings or songs that he wrote.
Photo from PR Photos