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Sony Music Acquires Major Stake in Michael Jackson Catalog, Valued at $1.2 Billion-Plus
Sony Music has acquired a major stake in Michael Jackson's $1.2 billion-plus music catalog, in the conclusion of a deal reported by Variety last year.
When Variety first reported on the negotiations last February, the estate was said to be seeking $800-$900 million, although it is possible that a different set of assets was included in the final deal, as the value of Jackson’s catalog has only risen in the past year. In 2018 Sony revealed in an earnings report that as part of its $2.3 billion acquisition of EMI Music Publishing, it had acquired the Jackson estate’s 25.1% stake in that company for $287.5 million. At the end of that years-long process, which had begun six years earlier but was not cleared by the European Union until 2018, EMI and Sony/ATV were fully owned by Sony, making it sole owner of the world’s largest music publishing company.
Or read this on Variety
