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[StoopKid]

Sony Corp. is paying $750 million to the estate of Michael Jackson for the late pop star’s stake in their joint music business to take control of a catalog that includes artists Sting and Alicia Keys.

The terms call for Sony to make a lump sum payment of $733 million for Jackson’s 50 percent stake in Sony/ATV Music Publishing, as well as future distributions, according to a statement Monday. Talks on a deal began in September, when Sony exercised its right under their joint venture to buy out Jackson’s estate.

http://www.bloomberg.com/news/artic...jackson-s-stake-in-music-unit-for-750-million

 

[randome]

That is so much money. If I could just get even 1/50,000 of that I'd be so so happy. It's really crazy how much money some people have.

 

[Log4Girlz]

Sony are you ok? Sony are you ok...are you ok Sony?

 

[Gitaroo]

Sony are you ok? Sony are you ok...are you ok Sony?

they have been doing ok for awhile.

 

[hodayathink]

they have been doing ok for awhile.

You've been hit by a smooth criminal.

 

[CosmicGroinPull]

Finally Michael Jackson is no longer in debt.

 

[WingM@n]

MJ bought his part of the cataloge for $41,5 million back in 1984.
Nice profit!

 

[Bishop89]

Sony already has pretty much a monopoly in the music industry no?

 

[eerik9000]

Sony already has pretty much a monopoly in the music industry no?

No.

 

[Gitaroo]

Sony already has pretty much a monopoly in the music industry no?

I think they are the biggest music distributor in the world but not the only one.

 

[PSGames]

“The value of music assets is increasing with the growth of streaming,” said Damian Thong, an analyst at Macquarie Group Ltd. in Tokyo. “Sony is actually paying less than the stake is worth.”

Why sell now with streaming revenue ramping up?

 

[T-0800]

Finally Michael Jackson is no longer in debt.

Never was. Cash poor perhaps but not in debt as this deal clearly shows.

 

[Familienoberhauptvogel]

Sony already has pretty much a monopoly in the music industry no?

nah they own just half of it...

 

[Aselith]

Sony are you ok? Sony are you ok...are you ok Sony?

Nailed it!

 

[WingM@n]

Why sell now with streaming revenue ramping up?

Because the MJ estate lawyers want their share of money now I guess .

 

[lupinko]

Sony already has pretty much a monopoly in the music industry no?

They have the largest publishing company I think but not the most artists, I think that's still UMG.

UMG and Sony both took halfsies on EMI's corpse, UMG the artists and Sony the publishing iirc. Although some EMI artists jumped ship and signed with Sony anyway. Like Daft Punk or the late David Bowie for example.

 

[Agent Icebeezy]

MJ would have never sold this.

 

[Wagram]

$250m short of what they made in their latest financials. Good lord.

 

[CosmicGroinPull]

Never was. Cash poor perhaps but not in debt as this deal clearly shows.

Really? I vaguely recall reading something about him having debts. Oh well.

 

[cebri.one]

Does this include The Beatles rights?

 

[eerik9000]

I think they are the biggest music distributor in the world but not the only one.

No, they are significantly smaller than Universal, who just a few years ago absorbed EMI, making them even bigger. Plus there\s Warner and a all the smaller/indedependent labels.

 

[Rekki-Maru]

MJ would have never sold this.

true, this shit is messed up.

 

[Protome]

MJ would have never sold this.

true, this shit is messed up.

So it should remain in holding by his estate forever out of some bizarro respect for the dead?

 

[ASIS]

So it should remain in holding by his estate forever out of some bizarro respect for the dead?

Yes, if the children sold the catalogue i'd understand but MJ was very clear about this specific catalogue. It was not for sale.

 

[Protome]

Yes, if the children sold the catalogue is understand but MJ was very clear about this specific catalogue. It was not for sale.

When was he clear on this?
The article makes it sound like the exact opposite is true and Sony has had the option to buy out MJs part since the start.

 

[WingM@n]

Why sell now with streaming revenue ramping up?

Because the MJ estate lawyers want their share of money now I guess .

 

[davepoobond]

IMO this was an investment on MJs part and he may not have sold it but he is not here anymore. It is time to cash out now while it is doing well, no point in keeping it and selling when the company possibly goes bankrupt due to corruption or Sony going under in other parts of the business

MJ might have had a passion for that business but his estate obviously doesnt

 

[LQX]

His family really should have held on to this. It was quite remarkable an individual like MJ owned such high stake in the music industry. All through the years of dept he had he never sold it and now just a few years removed from his death they up and sell it. Pathetic.

 

[30yearsofhurt]

That is so much money. If I could just get even 1/50,000 of that I'd be so so happy. It's really crazy how much money some people have.

That's peanuts.
For what they bought, it's a steal.

 

[ASIS]

When was he clear on this?
The article makes it sound like the exact opposite is true and Sony has had the option to buy out MJs part since the start.

A lot of times especially in the 2000's era. But yes you are correct this seems like a force purchase from Sony rather than the estate selling out.

 

[breakfuss]

Lol Sony has this kind of money? Guess the company's doing alright again.

And yeah, I'm pretty bummed they sold it to them.

 

[Alo0oy]

$250m short of what they made in their latest financials. Good lord.

It doesn't work like that.

 

[Zeus Molecules]

MJ would have never sold this.

^This. $750 mil is actually a discount. You got to look at this catalog as being the equivalent of a sports team when it comes to potential long term profit.

 

[jelly]

Don't his kids own the estate so it was their decision right?

I know the rest of his family are like vultures.

 

[Bluekaveli]

They got robbed

 

[gamz]

I actually think that's a really good deal. I figured it would be much higher.

 

[30yearsofhurt]

Lol Sony has this kind of money? Guess the company's doing alright again.

And yeah, I'm pretty bummed they sold it to them.

They're doing all right. Always were.
Don't believe everything you read on headlines of profit and loss statements.

Some of the best run companies have very small profits. They just know how to structure their accounts to meet analyst expectations and no more. And pay next to no tax.

They got robbed

I actually think that's a really good deal. I figured it would be much higher.

Yep. Sony really scored a massive bargain here. But put yourself in MJs kids shoes. Extinguishes any debts he may have left. With the remainder, if invested properly they could both end up billionaires by the time they're 30.

Does this include The Beatles rights?

Sure does. Hell, a low ball figure for that alone would be north of $300m surely?