The music catalogue of legendary singer Michael Jackson could soon become the property of Sony Music Group after a California appeals court gave the green light to the transaction.
The ruling, which was issued on August 21 and reported by The Hollywood Reporter, dismissed a lawsuit filed by the “Thriller” actor’s mother, Katherine Jackson, who claimed that the sale did not respect her son’s wishes.
In addition to the above, Michael’s mother also revealed her opposition to the sale because the dancer also wanted the catalog to increase in value over time, while remaining within the family.
How much will Michael Jackson’s catalogue cost?
Despite Katherine Jackson’s appeals, the California court concluded that the singer’s executors, John McClain and John Branca, did not violate the terms of Jackson’s will, so the purchase process by Sony will continue.
Michael Jackson granted the executors broad powers of sale, with no exceptions for the specific assets at issue in this case.”
According to The Hollywood Reporter, the price for Jackson’s musical repertoire could be between $1.2 and $1.5 billion, making it the most expensive catalogue in history.
The same American company paid around $600 million for 50% of the singer’s music rights. However, pending the finalisation of the transaction between Sony and Michael Jackson’s executors, the company holds the record for the largest amount of money paid for a repertoire: $1.27 billion for Queen’s catalogue last June.
Prior to the recent decision of the Los Angeles court, various media outlets revealed that the American singer, at the time of his death, had a debt of more than $500 million dollars.
As mentioned, Jackson’s creditors had filed over 65 claims against the “Beat It” singer, which led to a series of additional lawsuits. As to why the American artist had found himself in such financial trouble, it was mentioned that Jackson was a frequent spender and spent large sums of money on his “This Is It” tour, which he was unable to carry out due to his death in 2009.
The first biopic of Michael Jackson, starring his nephew Jaafar Jackson, will be released on April 18, 2025.
Continue reading
Michael Jackson biopic reportedly filmed at Neverland Ranch
Michael Jackson’s daughter Paris declares herself a fan of Christian Nodal: “He’s my favorite”
Luis Miguel becomes the fourth most listened to solo artist on Spotify