Michael Jackson’s estate is nearing a deal that will result in the sale of half its interests in the singer’s catalog, Variety has reported.
The exact details of the deal are being kept under wraps but, according to the publication, the 50% up for sale would be purchased by Sony, possibly in conjunction with a financial partner.
The deal would span not only half of Jackson’s publishing and recorded music revenue but also products of his brand that have developed since, including the MJ: The Musical Broadway show and the Michael biopic, the latter of which is directed by Antoine Fuqua and will star the singer’s own nephew, Jaafar Jackson.
Three separate sources confirmed to Variety that the alleged deal is priced between $800 million USD and $900 million USD. If successful, the acquisition would go down in history as the highest deal of its kind for a musical artist. While high, the number isn’t exactly surprising given that Jackson’s catalog has proven to be one of the most lucrative bodies of work in music history.
Throughout Jackson’s lifetime, CBS and Sony handled his entire recorded music catalog. Following the singer’s death in 2009, the interests of his estate were passed on to be controlled by a firm under the management of his longtime attorney and a co-executor, who declined comment to the publication on the alleged deal.
In other music news, Bone Soda will open a new London-based creative hub “DIJONSS.”
