Sony to Acquire Half of Michael Jackson’s Portfolio

Thu 09 Feb 2023 | 09:22 PM

Japanese giant Sony intends to buy half of Michael Jackson’s musical catalog for $800-900 million, according to variety.

If Jackson’s heirs agreed to the sale, it could include half of the interests they own, including the rights to the biopic in the works. Michael and on the musical MJ: The Musical.

The deal could become the largest bargain ever in the increasingly coveted business of music catalogs.

Over the past two years, Sony has paid more than $500 million to acquire Bruce Springsteen’s catalog, and Universal Music has acquired the rights to David Bowie’s complete works for $400 million.

At the end of January, the Canadian singer Justin Bieber sold the rights to his musical catalog to the company Hipgnosis for $200 million.

In this context, the sum advanced for the catalog of Jackson is particularly impressive, especially since it does not concern all the rights, contrary to the usual transactions in the sector. 

Source link

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *