According to Variety, the Michael Jackson estate is selling half of its stake in the singer’s music catalog for up to $900 million. According to the platform, the reported sale will include the Broadway show MJ: The Musical and the upcoming biopic, Michael.
According to Variety, Sony and a potential financial partner are in talks to buy half of Michael Jackson’s publishing and recorded music revenues from the estate.
According to iHeartMedia, Sony is well known for being behind some of the biggest catalog deals in the music industry, having purchased both Bob Dylan and Bruce Springsteen’s catalogs for approximately $800 million. If Jackson’s back catalog is sold for the above price, it will be the largest sale ever, surpassing Springsteen’s $600 million.
For many years, Sony collaborated with Jackson. After selling a 50% stake in ATV to Sony for around $100 million, Jackson and the publishing company formed Sony/ATV Music Publishing in 1995.
Jackson has captivated audiences for four decades and continues to be a towering influence on artists today. Quincy Jones produced his 1979 album, which was a polished affair that made the most of Jackson’s impressive vocal talents and natural ability. To date, the album has sold 20 million copies worldwide.
“Thriller,” the next album released in 1982, hardly needs an introduction. Jones returned to the role of producer, and the magic was still there. It became the best-selling album in history, selling 65 million copies worldwide. It was such a huge success that Jackson didn’t release music for another five years, with the chart-topping “Bad” album in 1987.