The estate for the late pop icon Michael Jackson may soon reach an agreement to sell half of its stake in the late King of Pop’s music discography.
Three sources tell Variety that the Michael Jackson estate is in the process of selling half of its holdings in the late singer’s music library for a sum between $800 million and $900 million.
Sources claim that Sony and a potential financial partner are negotiating to acquire 50% of the estate’s interests in Jackson’s publishing, recorded-music revenues, the Broadway production of MJ: The Musical, the upcoming biopic Michael and possibly more assets. Details of the negotiations are unclear.
The deal would be the largest one in the still-exploding music library business to date.
Variety was informed by a financial source that Primary Wave Music already has an interest in Jackson’s publishing library, though the specifics were not made explicit.
Jackson’s recorded music was exclusively distributed by Sony and its predecessor CBS for the entirety of his solo career and the latter part of his time with the Jackson 5. The singer passed away in 2009 at the age of 50, and Branca, his longtime lawyer, and co-executor John McClain have handled his estate’s strong entertainment interests with a firm hand.
Jackson’s recorded music collection is one of the most successful in history; his 1982 album Thriller alone is one of the two best-selling albums of all time and the first to receive a 30-times platinum certification, though such statistics have gotten murky in the streaming era.
13 years after his death, Michael Jackson’s music still resonates throughout the world. His discography still generates a lot of money, which is still of interest to many investors today. Case to follow.
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