Michael Jackson may be dead, but he’s still raking in big bucks. In a historic deal announced Monday, Jackson’s estate sold his 50% stake in Sony/ATV Music Publishing to Sony for $750 million.
The world’s biggest publishing company — which owns the rights to song lyrics and melodies, but not recordings — was previously jointly owned by the Jackson estate and Sony.
The publishing company’s catalogue includes the copyrights to most of The Beatles’ catalogue, as well as songs by The Rolling Stones, Marvin Gaye, Taylor Swift and dozens of other hit artists.
Jackson learned the value of owning a music publishing company from Paul McCartney, who was later dismayed when, in 1984, the singer purchased the ATV catalogue, which included the majority of The Beatles’ compositions.
(The Wall Street Journal)