Sony buys Michael Jackson catalog for $750 Million (fishy deal.)

[L.Kizzle]

I lot of folks don't know how great of a business man Mike was. People just think of him buying the Beatles catalog and that's it. Oh no, it was much more than that. He had ownership over other artist back (and current) catalog such as Sly & the Family Stone, Little Richard, Neil Diamond, Def Leppard not to mention his own and his brothers material and even current artist like Eminem and Beyonce before he passed. Worth somewhere close to 2 Billion.

Sony was trying to get him to sell it to them, Mike didn't bulge. He wanted to give this to his children and family.

Well, he passed and Sony did retain half of that and the other half went to the Michael Jackson Estate. The estate has said for years they would never sell and give it to the children. Well all that has changed a few hours ago as all that has went down the drain as it's been sold to Sony for $750 Million.

I think this is really bogus as it leaves the family with nothing that was promised to them. I see a big court case coming soon. Brother Randy has actually been fighting this since MJ passed. I guess he though something fishy was gonna go down. I guess he was right.

[stalkerforlife]

Michael was worth more dead than alive to the businesses he was involved with.

[Kblaze8855]

Leaving the family with nothing? Eh. I find it unlikely that after a 750 million dollar sale his kids will be forced to get jobs. Im sure its all tied up with those who run his estate but its not gonna just bypass his family.

[DCL]

it would not stun me if they spent all of this money in 20 years

[L.Kizzle]

Leaving the family with nothing? Eh. I find it unlikely that after a 750 million dollar sale his kids will be forced to get jobs. Im sure its all tied up with those who run his estate but its not gonna just bypass his family.
I shouldn't say "nothing." They're gonna get paid well, but that's not how it was supposed to play out.

They were supposed to get shares, ownership of all these catalogs. So with that, they're left with nothing. So all the Beatles masters, and other artist music it's no more. Hell, they didn't even give the family Mike and his brothers work.

[Zach LaVine]

Nothing huh? I guess I have negative money in comparison then. Oh wait, I do. It is called debt.

[Overdrive]

Isn't the estate basically the family like Gaye, Hendrix etc?

[NumberSix]

I shouldn't say "nothing." They're gonna get paid well, but that's not how it was supposed to play out.

They were supposed to get shares, ownership of all these catalogs. So with that, they're left with nothing. So all the Beatles masters, and other artist music it's no more. Hell, they didn't even give the family Mike and his brothers work.
I don't think Michael Jackson ever owned any of their masters, just the publishing rights. They don't always go hand in hand.

[NumberSix]

Leaving the family with nothing? Eh. I find it unlikely that after a 750 million dollar sale his kids will be forced to get jobs. Im sure its all tied up with those who run his estate but its not gonna just bypass his family.
Yeah. "His kids".

[Godzuki]

MJ was worse than a black pro athlete with money :coleman:

he only bought the beatles catalogue because he had a financial advisor and he was a fan. dude was clueless about financials.

his kids/family probably sold it considering how fast that MJ money has dried up on them.

[BurningHammer]

Jackson estate still has small stakes of MJ's works. As long as those money go to MJ's kids it should be fine.

[dazzer87]

op Thinks 750 million is nothing?????? :roll:

[Smook A.]

This really sucks for the Jackson family

[FillJackson]

Michael Jackson died in 2009.

Perhaps the value of a music catalog has dropped in 6 years.

http://i2.wp.com/gloriousnoise.com/wp-content/uploads/2015/01/2014-album-sales.png

[bladefd]

op Thinks 750 million is nothing?????? :roll:

Imagine if you have property worth 1 million that you inherit from your parents, and you decide to cash it out for 250,000. Sure, 250k is a lot of money, but not full market value. You're taking a loss on it in the long run.

Yes, 750 mill is a lot of money but not full market value.

[FillJackson]

Imagine if you have property worth 1 million that you inherit from your parents, and you decide to cash it out for 250,000. Sure, 250k is a lot of money, but not full market value. You're taking a loss on it in the long run.

Yes, 750 mill is a lot of money but not full market value.

In this case, we don't actually know what the full market value is.