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Major Moves in Music Publishing Catalog Rights (Sony/Jackson/BMG)
Trauma-san:
Well, Michael Jackson & Sony collectively own "Sony/Atv" publishing, one of the largest holders of publshed songs in the world. BMG Music I believe is #2? #3? I don't know the specifics, but articles have been popping up, suggesting the two are trying to merge their catalogs, and push Michael out, creating the largest publishing company in the world.
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October 5, 2004 -- Sony's U.S. unit and embattled pop singer Michael Jackson are expected to begin negotiations soon to unwind a partnership that owns the rights to songs by The Beatles, The Post has learned.
Sony is intent on wresting control of the business from Jackson while Jackson, facing child molestation charges in Los Angeles, is likely to agree to exit the partnership because of his financial troubles, sources said.
While no formal negotiations about the exit have been held, general discussions between Sony and Jackson's representatives, including music attorney John Branca and financial adviser Charles Koppelman, about the post-merger direction of the partnership have taken place, sources said.
Meanwhile, Sony will enter talks with significant leverage, since Jackson's half of the partnership carries a $200 million loan from Bank of America — co-signed by Sony.
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However, the article is incorrect. The 200 million dollar loan doesn't even exist, and Michael's contended for years he has plenty of money, and he would never sell the Beatles Catalog... so I looked around, and found this from the hitsdaily double rumour mill...
JACKSON'S SONY/ATV NOT FOR SALE Despite N. Y. Post reports to the contrary, inside sources insist Michael Jackson is not looking to sell his 50% stake in Sony/ATV Music Publishing, worth approximately $500 million, and is, in fact, looking for investors to buy out Sony Corp.'s share in the pubbery. (10/5p)
Sikx:
interesting.. thats hell-a-lot of money..
pappy:
--- Quote from: SMiLE on October 07, 2004, 08:10:30 AM ---
However, the article is incorrect. The 200 million dollar loan doesn't even exist, and Michael's contended for years he has plenty of money, and he would never sell the Beatles Catalog... so I looked around, and found this from the hitsdaily double rumour mill...
JACKSON'S SONY/ATV NOT FOR SALE Despite N. Y. Post reports to the contrary, inside sources insist Michael Jackson is not looking to sell his 50% stake in Sony/ATV Music Publishing, worth approximately $500 million, and is, in fact, looking for investors to buy out Sony Corp.'s share in the pubbery. (10/5p)
--- End quote ---
ny post is quite possibly the biggest joke of a news paper in america so dont believe what they say.
LyRiCaL_G:
yo wat up with jackos case? the more i hear of it, the more i feel dude probably done some funny shit with some lil kids cuz he gettin mo fucked in the head by the day but at the same time cuz im a big fan of his shit, i like to think his innocent, but if he comes out innocent from this case, is his music career over or he still gone release new albums?
Sikotic™:
I hope Michael doesn;t sell it just because of how Sony fucked him over.
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