Sony Group is acquiring a half-interest in the music catalog of the late pop star Michael Jackson by purchasing 50% of his music for at least $600 million, Billboard reported, saying it is the largest such deal ever.
The deal may also include songs from other artists who are part of the Mijac publishing catalog, the music industry, citing sources it did not identify.
The assets include ownership of master recordings and the publishing of Michael Jackson's songs, as well as the Mijac catalog. The Michael Jackson estate was previously sold, with half of the shares transferred to Sony/ATV Music Publishing, a holding that included Beatles songs.
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Michael Jackson, one of pop music's best- selling , passed away in 2009, leaving behind a fortune worth hundreds of millions of dollars but large debts to cover.
According to Billboard, a new biopic about the singer titled “Michael” is set to be released next year, sparking interest among his fans. More details about the singer and the film are expected to be released as the release.
Source: japantimes.co.
