Baller Alert Entertainment & Lifestyle
The estate of legendary singer and icon Michael Jackson may be landing the biggest sale of a music catalog to date by selling half of its interests in the late singer’s music catalog.
Sources told Variety it’s a deal in the $800 million-$900 million range. Although it hasn’t been confirmed, sources added that Sony and a possible financial partner are negotiating to acquire at least 50% of the estate’s interests in MJ’s publishing, recorded-music revenues, the MJ: The Musical Broadway show, and possibly other assets.
However, there are strings attached. The late singer’s estate says they’ll never sell his historic catalog outright. While they are willing to forego a 50/50 split, the estate has to maintain complete management and control, TMZ reported.
It wouldn’t be a first for Sony, but if it landed, it would be the biggest deal to date in the music catalog market.
Sony, MJ’s long-term label, has been involved in some of the biggest previous known catalog deals, including the acquisition of Bruce Springsteen’s publishing and recorded music catalogs, which was reportedly purchased for $600 million. The company also allegedly paid $150 million-$200 million for Bob Dylan’s rights to his recorded-music catalog.
Still, the Thriller artist’s deal would be much different.
The estate recently announced a biopic in the works for the King of Pop as well, with production scheduled to begin this year.
