West Coast Connection Forum
DUBCC - Tha Connection => Outbound Connection => Topic started by: Drudge on April 14, 2005, 09:36:23 AM
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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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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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im gonna buy it :)
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i wanna buy "here comes the sun" lol
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I wish I could buy.
This is Sir Paul's chance to step up and buy it back!
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Good. Now maybe rappers beatles samples will be authorized
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^ doubt it, why would paul wana do that? i dont think he likes rap
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how much is it worth
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he'd be better off selling his own songs lol
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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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ill buy it for $4.50
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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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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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how the fuck has MJ spent/lost all the millions of daollars he had??
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... 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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how the fuck has MJ spent/lost all the millions of daollars he had??
How do we know he has? That's the point.
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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.
Trauma, don't know if this is true but Washington Post swears by it.
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even if Michael is in finacial trouble which i dont think he is because he brings in regular money (he is selling 16,000 copies a week of albums/dvds) he can always demand huge loans from banks etc. so i doubt he will need to sell his beatle catalogue especially as that also consistantly brings money in.
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hahhaha...well, looks like he sold it!
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how can this fool be broke? and who did he sell it to?
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Its not that hes broke, its just that he needs some cash, cause all his money is invested in stuff, and his property is worth loads as well, he seems to just take loans out to pay for normal things, and therefore I think he just needs to sell something to raise the necessary cash to pay for the trial proceedings. He is a long way from struggling financially, believe me.