Michael Jackson
Record deal on music catalog should be in place
Michael Jackson died in 2009. Now there is reportedly a deal for half of his music catalog.
© imago/ZUMA Wire
Sony Music has reportedly made a record-breaking deal for half of Michael Jackson’s music catalog.
The rights to half of Michael Jackson’s music catalog (1958-2009) could in the future belong to Sony Music, among others the industry magazine “Billboard” and the “New York Times” to report. According to the daily, Sony has agreed to acquire half of the catalog from the superstar’s estate.
According to the New York Times, Sony is set to acquire a 50 percent stake in Jackson’s songwriter and music catalog, which includes, among other things, a share of songs like “Bad” and “Beat It.” Releases from Jackson’s Mijac catalog are also included.
Deal reportedly for at least $600 million
Anonymous sources have now told “Billboard” that the total value is more than 1.2 billion US dollars, while others even spoke of up to 1.5 billion. With a corresponding valuation, Sony would have to pay at least $600 million. The agreement on rights was supposedly concluded at the end of 2023.
According to the daily newspaper, it is probably the highest transaction for the work of a single artist that has ever occurred, citing two people familiar with the alleged agreement. However, a significant degree of control should remain with the estate administrators. However, representatives for Sony and Jackson’s estate have not yet wanted to comment on the rumored deal.
About a year ago I had the industry magazine “Variety” reported for the first time that Sony Music was in negotiations. There have been several similar deals in the music industry in recent years. Also to the Queen catalog there are reports currently negotiating.