Michael Jackson’s Estate Sells Share of ATV/Sony Publishing Company for $750 Million

For more than two decades, the world’s largest music-publishing catalogue was split down the middle in ownership between Sony and Michael Jackson.

Michael Jackson first partnered with SCA in 1995 after purchasing ATV, a music publishing company that was home to the Beatles catalog, in 1985.

After a 21-year partnership with Michael Jackson, Sony Corporation America (SCA) is looking to purchase the late entertainer’s stake in its Sony/ATV Music Publishing company for $750 million.

From us to you: Michael Jackson’s estate has officially sold its half-ownership of The Beatles’ and Bob Dylan’s catalogs.

Jackson’s heirs still own the rights to his own songs and recordings, as well as part of the record company EMI. Sony chief executive Kazuo Kirai said: “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”.

The agreement should help rid the Jackson estate of the debt carried on since his death.

Sony will now have full control of what many believe to be the crown jewels of music: an extensive music catalog that has many songs by the Beatles.

“This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children”, Jackson estate co-executors John Branca and John McClain said in a statement to the publication. It remained his most lucrative asset at the time of his death in June 2009 at age 50, though by that point Jackson was hundreds of millions of dollars in debt.

Sony exercised its right under their joint venture to buy out Jackson estate’s stake. Years ago, the 73-year-old musician admitted it was painful to have to pay to play his own songs, saying, “The annoying thing is I have to pay to play some of my own songs”.

The process of the sale, which was initiated on September 2015, is expected to finalize at the end of March.

Jackson’s estate is selling its half-share in the company to Sony for US$750 million.