Michael Jackson's music publishing catalogue could land Sony $1 billionComments Off on Michael Jackson's music publishing catalogue could land Sony $1 billion
Sony could land $1 billion (£655 million) with the sale of its stake in the music publishing business it co-owns with the estate of pop legend Michael Jackson.
The Japanese technology giant recently triggered a clause that would allow it to sell its half of the Sony/ATV Music Publishing venture it has held for 20 years.
The company is the world’s biggest music publishing group and co-owns the rights to most of the Beatles’ songs, as well as songs by Marvin Gaye, the Rolling Stones, Taylor Swift and dance music’s Calvin Harris.
Music industry veterans estimate Sony/ATV’s value at around $2 billion.
Michael Jackson bought ATV Music Publishing for $47.5 million in 1985 and sold Sony a 50% stake for more than $100 million in 1995.
Sony is still in negotiations with the Jackson estate, and there is no guarantee that the Japanese group will sell, but a public auction of the assets has not been ruled out.
The structure of Sony/ATV allows either partner the right to counter any offer to buy out the other side, as well as to bid for the half each doesn’t own.