The Michael Jackson estate is selling half of its interests in the singer’s music catalog for up to $900 million, Variety reports. The platform says the reported sale will include MJ: The Musical Broadway show and the upcoming biopic, Michael.
Sources have told Variety that Sony and a possible financial partner are negotiating to acquire 50 percent of the Michael Jackson estate’s interest in Jackson’s publishing and recorded music revenues.
Sony is well known for being behind some of the biggest catalog deals in the music industry, purchasing both Bob Dylan and Bruce Springsteen’s catalogs for a combined total of about $800 million, according to iHeartMedia. If Jackson’s back catalog of music is sold at the above price, it will be the largest sale to date, leading Springsteen at $600 million.
Sony worked with Jackson for many years. The singer and the publishing company formed Sony/ATV Music Publishing in 1995 after Jackson sold a 50 percent share of ATV to Sony for around $100 million.
Jackson has captivated audiences in a career that spans over four decades and remains a towering influence on artistes today. His 1979 record, produced by Quincy Jones, was a polished affair that made the most out of Jackson’s impressive vocal talents and natural ability. The album sold 20 million worldwide to date.
The next album released in 1982, “Thriller,” hardly needs an introduction. Jones returned to the producer’s role and the magic was evident. Selling 65 million copies worldwide, it became the highest-selling album in history. It was such a gigantic success that Jackson didn’t release music until five years later with the high-charting “Bad” album in 1987.
