Michael Jackson’s Music Catalogue Pending Sale
According to a report published on Tuesday, 7 February, 50% of the late Michael Jackson’s catalogue may sell for between $800 and $900 million.
The blockbuster deal could include the King of Pop’s publishing, recorded-music revenues, the “MJ: The Musical” Broadway show and the upcoming controversial biopic “Michael,” as well as other assets.
The report suggests that Jackson’s former label, Sony, and a possible financial partner are interested in purchasing half of the catalogue, leaving the other half in control of the singer’s estate.
Sources close to the Jackson estate have mentioned that the only way the deal will be able to go through is if the estate can retain complete control of the assets.
If the pending sale is completed, it will be one of the biggest music catalogue purchases to date. Other stars have made similar deals recently, with Bruce Springsteen fetching over half $500 million for his life’s work, while pop icon Justin Bieber sold his work for a comparatively modest $200 million.
Rapper Dr. Dre is reportedly also in negotiations at the moment, with his assets expected to sell for another cool $200 million.
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