According to Variety, Michael Jackson’s estate is close to selling half of the singer’s catalog for $800-$900 million.
Details of the sale are unclear, including the potential financial partner working with Sony Music on the acquisition.
However, it will no doubt pay off greatly. The sale likely includes 50% of MJ’s releases, revenue from recorded songs, MJ: The Musical Broadway Show, and an upcoming biopic.
However, others point out that there are other assets for sale. However, Primary Wave Music reportedly owns Jackson’s portion of its publishing catalog.
The only way they could make a 50/50 deal was if their shares were 100% managed and controlled. However, it just makes sense to partner with Sony Music in the business. After all, that was Michael’s term long ago during his solo career.
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Obviously, Michael Jackson’s catalog is still in high demand today. For example, 1982’s “Thriller” is one of the best-selling albums of all time and continues to sell hugely to this day. This project alone is 30x platinum.
The news follows Lionsgate confirming that a biography of Michael Jackson is in the works. With the Jackson estate so heavily involved and his nephew AJ Jackson taking on the pop star role, the Antoine Fuqua-produced biopic is sure to draw on his greatest hits to accurately convey the story.
At a time when many artists are selling their catalogs for millions of dollars, Michael Jackson’s catalog was undoubtedly at the top of the list.
We see early acts like Bruce Springsteen agreeing to sell his back catalog for half a billion. Meanwhile, Justin Bieber sold his back catalog for nearly $200 million. Even Lil Wayne sold Young Money’s catalog – including records by Drake and Nicki Minaj – to Universal Music Group for $100 million.
