Sony agreed to buy Michael Jackson’s estate’s half of Sony/ ATV music publishing company, which will give the company control of the King of Pop’s publishing assets that include many of the Beatles’ most famous songs.
Sony and Jackson formed Sony/ATV in 1995, a decade after the King of Pop paid $41.5 million to acquire the ATV catalog, which included many Beatles songs. Jackson outbid Paul McCartney to clinch the deal.
John Branca and John McClain, co-executors of Jackson's estate, said the singer's original purchase of the ATV catalog was "one of the smartest investments in music history."
"This transaction further allows us to continue our efforts of maximizing the value of Michael's estate for the benefit of his children," Branca and McClain said in a statement. "It also further validates Michael's foresight and genius in investing in music publishing." We, the fans, are really saddened.
Sony/ATV Music represents the copyrights of the Beatles, Leonard Cohen, Bob Dylan, Marvin Gaye, Michael Jackson, Carole King, Kraftwerk, Joni Mitchell, Willie Nelson, Roy Orbison, Queen, the Rolling Stones, Richie Sambora, Sting, the Supremes, Wyclef Jean, Hank Williams and Stevie Wonder. Current artists include Akon, Alicia Keys, Lady Gaga, P!nk, Shakira, Ed Sheeran, Sam Smith, Taylor Swift, Kanye West and Pharrell Williams.