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Author Topic: michael jackson Done Deal on selling Beatles and (UPI BREAKING)  (Read 491 times)

Drudge

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michael jackson Done Deal on selling Beatles and (UPI BREAKING)
« on: April 14, 2005, 09:36:23 AM »
Jacko Must Make Beatles Sale
Thursday, April 14, 2005
By Roger Friedman
 PHOTOS
   

Jacko to sell interest in Beatle's tunes



Los Angeles, CA, Apr. 15 (UPI) -- Michael Jackson, paying big bucks to defend himself against child molestation charges in California, is selling his half stake in the Beatles' catalog.



"In the next few days" his agents will close on a deal to sell his interest in the Sony/ATV back catalog, which includes half of the rights to more than 150 songs written by John Lennon and Paul McCartney, the Scotsman said Friday.

Court documents have put his debts at some $275 million.

Jackson is expected to be left with $10 million in cash once his outstanding debts have been paid, and would receive yearly income of between $7 and $8 million, including payments from Sony/ATV.

Loans secured on Jackson's own back catalog and his Neverland ranch would also be paid off. Jackson would then be forced to scale down operations at the 2,700-acre Neverland ranch, which include a carnival and zoo.

Jackson bought the rights to the entire Beatles song collection for $47 million in 1985. He sold half of the rights to Sony/ATV in 1991 for $130 million. The catalog is now worth more than $500 million.
 
 
 
 
   
 
 
 
 
 
 
 
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« Last Edit: April 19, 2005, 10:32:18 AM by Mattdrush1 »
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Drudge

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #1 on: April 14, 2005, 09:38:22 AM »
First Off, As much as the Beatles are worth...Michael may have borrowed so much against it, that it's worth has diminish to a degree.
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white Boy

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #2 on: April 14, 2005, 09:59:37 AM »
im gonna buy it :)
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Throwback

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #3 on: April 14, 2005, 10:06:25 AM »
i wanna buy "here comes the sun" lol
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Lincoln

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #4 on: April 14, 2005, 10:13:56 AM »
I wish I could buy.

This is Sir Paul's chance to step up and buy it back!
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Suffice

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #5 on: April 14, 2005, 11:27:17 AM »
Good. Now maybe rappers beatles samples will be authorized
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white Boy

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #6 on: April 14, 2005, 02:08:29 PM »
^ doubt it, why would paul wana do that? i dont think he likes rap
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chronicad

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #7 on: April 14, 2005, 03:15:06 PM »
how much is it worth
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Suga Foot

Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #8 on: April 14, 2005, 03:26:25 PM »
he'd be better off selling his own songs lol
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Trauma-san

Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #9 on: April 14, 2005, 04:17:09 PM »
Hey, this rumour reminds me of the last one, a couple months ago when they said the same thing, and a couple months before that, and a couple months before that, and... well wait a minute, they've been saying this ever since he bought the fucking songs.

It's B.S., Michael released a statement today, again (for about the 100th time) saying he wasn't selling the Beatles catalog. 

Paul won't buy them back, because he wants them for what Michael paid for them, he refuses to pay Michael what they're worth. 
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BigBDrugStores

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #10 on: April 14, 2005, 04:18:48 PM »
ill buy it for $4.50
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Suffice

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #11 on: April 14, 2005, 07:00:07 PM »
How much do y'all think "wild honey pie" is worth? I'd buy that, its one of my favorite songs
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Trauma-san

Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #12 on: April 14, 2005, 08:18:32 PM »
The funny thing is, too, that the people that claim this shit don't even have the slightest idea about the situation.  Michael merged his Beatles Catalogue with Sony's ATV catalogue years ago.  He owns half of EACH song, and owns half of EACH Sony ATV song.  Sony ATV is a living catalogue, it's got new artists added each year, it's got people that still tour and record like OASIS, he owns half of OASIS' song royalties.  He can't just sell his 1/2 of the Beatles tracks, they're not even seperate anymore, they're part of a much larger catalogue that he owns half of with Sony.  That's why Sony can't 'fire' him or let him out of his contract, that's why he keeps releasing albums on Sony, etc. they're joined at the hip, because they rediculously merged their catalogue with him. 


... but yet every fucking two months or something somebody says "Michael's gonna sell the Beatles songs!"

He can't sell the Beatles songs even if he wanted to, he'd have to sell his entire fucking publishing library, and he repeatedly denies he's selling anything. 

People wanna hear and believe what they want, though. 
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'DsR'

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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #13 on: April 14, 2005, 08:53:03 PM »
how the fuck has MJ spent/lost all the millions of daollars he had??
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Re: michael jackson possibly selling Beatles catalog due to financial strain
« Reply #14 on: April 14, 2005, 11:47:04 PM »
Quote from: Trauma on April 14, 2005, 08:18:32 PM
... but yet every fucking two months or something somebody says "Michael's gonna sell the Beatles songs!"

yeah, in July we will be discussing this again
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