According to reports, the Michael Jackson estate is planning to sell the late pop star's music catalog in a deal that can yield a return of $800 million to $900 million.
Variety reports that sources close to the situation believe "Sony and a 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 potentially other assets.
Per Variety:
Sources would not confirm the financial partner in the deal, and it remains unclear whether one is definitely involved, but likely suspects would include Eldridge Industries... [...] In 2016 Sony Corp. reached a $750 million agreement with the estate to acquire the Jackson estate’s 50% stake in their joint venture, Sony/ATV Music Publishing, which they had formed in 1995. In 2018 Sony revealed in an earnings report that as part of its $2.3 billion acquisition of EMI Music Publishing, it had acquired the Jackson estate’s 25.1% stake in that company for $287.5 million.
The possible package could be the biggest deal of its sort in the booming market of music catalog sells. Despite the potential dollar amount surfacing, reps for the Jackson estate, co-executors John Branca and John McClain, Sony and Primary Wave declined to comment on the particulars of the deal.
Source: Variety.com
