Sony Music Group has finalized a deal to acquire half of Michael Jackson’s publishing and recorded masters, marking the culmination of a transaction that Variety first reported on a year ago. The catalog’s total value is estimated to be around $1.2 billion, with Sony reportedly paying at least $600 million for the stake, as per Billboard.
This deal stands as the largest acquisition of assets belonging to a single music artist to date. The complex agreement includes assets from Jackson’s renowned Mijac publishing catalog, encompassing titles by artists like Sly & the Family Stone, Jerry Lee Lewis, and Ray Charles, among others. Notably, it excludes royalties from the “MJ” Broadway musical and similar productions.
While Sony secures a significant share, Primary Wave Music retains a 10% stake in Jackson’s publishing assets. Representatives for Sony, the Jackson estate, and Primary Wave declined to comment on the matter.
The estate’s co-executors, John Branca and John McClain, are expected to maintain their roles. Sony has long been associated with Jackson’s recorded-music catalog, having been the sole home for his solo career and his years with the Jackson 5.
Jackson’s music catalog, notably his iconic “Thriller” album, remains one of the most lucrative in history. Sony’s previous agreements with the estate, including a $750 million deal in 2016 and the acquisition of the Jackson estate’s 25.1% stake in EMI Music Publishing in 2018, have significantly expanded its ownership in the music publishing industry.
Source: Economic Times