Michael Jackson’s estate is selling half the interest of his catalog for $800M-$900. Little is known about the exact buyer or other details surrounding the sale. Their purchase will include rights to 50% of MJ’s publishing catalog, also reportedly owned by Primary Wave Music. They’ll also earn extra income from the King of Pop’s recorded music, broadway show, MJ: The Musical broadway show, and his upcoming biopic. Other assets are allegedly involved in the sale.
The news is a surprise, especially because his estate told TMZ a while ago that they’d never sell the catalog outright. A 50/50 deal will be the only exception if they retain 100% management and control alongside Sony Music. Michael was a part of the label throughout his solo career.
Other musicians who have sold their catalog include Bruce Springsteen for half a billion, Justin Bieber for $200M, and Lil Wayne, who sold the Young Money catalog to Universal Music Group for $100M.