MICHAEL JACKSON’S ESTATE IN TALKS TO SELL 50% OF CATALOG FOR OVER $800 MILLION
Michael Jackson’s legacy lives on.
According to reports, MJ’s estate is in talks of closing on a huge deal. Variety reports they’re in the process of selling half of its interests in the king of pop’s catalog.
Details of the deal are unclear, but it could be sold from $800-$900 million. The article reports Sony and a possible financial partner are negotiating to acquire 50 percent of the estate’s interest in MJ’s publishing, recorded-music Venus, the “MJ The Musical” Broadway show, an upcoming biopic, Michael, and more.
TMZ reports the estate would only entertain a 50/50 split if the estate maintains complete management and control.
During Michael’s career (including the Jackson 5), SONY and its predecessor CBS were the only outlets for his music.
Michael passed away in 2009 at the age of 50.
Let us know your thoughts on the deal.