Sony Music Group Acquires Stake In Michael Jackson’s Music Catalog, Deal Speculated To Be Valued At Over $1.2B

Michael Jackson’s catalog continues to stand the test of time. As AFROTECH previously told you, it had been rumored that there would be a sale of the late singer’s timeless hits. The deal was projected to set a new standard in the music industry. There’s no need for speculation anymore as Sony Music Group has completed the sale of the music catalog, Billboard reports. The deal is said to include 50% of Michael Jackson‘s publishing and recorded masters catalog. What’s more, the assets are speculated to be valued at between $1.2 billion and $1.5 billion, sources close to the matter have said, according to the outlet. Sony Music Group will reportedly pay at least $600 million for its stake in Jackson’s rights. Based on Billboard’s report, the agreement “does not include royalties from the Broadway play and other theatrical productions featuring Jackson’s music.” The Broadway play the outlet is referring to is “MJ the Musical.” Sony’s interest in the legacy Jackson left behind isn’t…

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