Michael Jackson’s Estate Is Closing In On A Deal To Sell Half Of Its Stake In His Music Catalog For Almost $1 Billion
In news that’ll make you stand on your toes and scream “HEE-HEE!” Michael Jackson‘s lengthy music catalog is about to be sold for a whole lot of money. Now, whether or not that means any of this cash will go to his children has yet to be determined. But I’m sure Detective La Toya will find a way for her family to get their hands on some of that cash, which could bring in anywhere between $800 million to $900 million. If there was ever a time for Michael to rise from the grave and dance his way to the bank with the rest of the zombies from Thriller, this is it, I guess.
Michael Jackson moonwalked into the afterlife fourteen years ago, and we all know death doesn’t stop profit. So if there’s a check waiting to be cashed afterward, you know folks will dig up the body and shake it for a few more coins as long as they can. Hence this deal. Variety reports this potentially lucrative transaction is being handled by Michael’s longtime attorney John Branca and fellow co-executor John McClain. They’ll probably both go completely off the grid after securing this off-the-wall deal.
The Michael Jackson estate is in the process of selling half of its interests in the legendary singer’s music catalog in a deal in the $800 million-$900 million range, three sources confirm to Variety. While details are unclear, sources say that 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 possibly more assets.
The package would be the biggest deal to date in the still-booming music catalog market.
A financial source tells Variety that Primary Wave Music already owns a stake in Jackson’s publishing catalog, although details are unclear.
Reps for the Jackson estate, co-executors John Branca and John McClain, Sony and Primary Wave declined Variety’s multiple requests for comment.
I realize this is a lot of money, but with Michael Jackson’s estate-approved upcoming biopic, perhaps the estate needs all the extra funds they can get to make Michael’s nephew Jaafar Jackson, who is playing him, successfully transform from a Black man into a white woman with an interchangeable nose. That’s going to require a hell of a lot of post-production magic, and those kinds of CGI effects definitely won’t come cheap.