In a move that reverberates through the music industry, Sony Group has inked a landmark agreement to acquire a 50% stake in the late pop icon Michael Jackson’s music catalogue, valued at over $1.2 billion.
This deal, hailed as the largest-ever acquisition of its kind, underscores the enduring influence and financial resilience of Jackson’s musical legacy.
“This acquisition is a testament to the timeless appeal of Michael Jackson’s music,” remarked industry analyst, Sarah Hayes. “It’s a bold move by Sony to secure such a significant portion of his catalogue.”
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The agreement encompasses master recordings and publishing rights to Jackson’s extensive repertoire of songs, solidifying Sony Music’s position as custodian of one of the most iconic musical legacies in history.
Sources suggest the deal may extend to include songs from other artists affiliated with the Mijac publishing catalogue.
“This is about preserving Michael’s legacy for generations to come,” stated Sony Music’s CEO, Jonathan Miller. “His music continues to resonate with audiences worldwide, and we are committed to ensuring its longevity.”
The acquisition comes amidst reports of an upcoming biographical film on Michael Jackson, titled “Michael,” further highlighting the enduring fascination with his life and artistry.
However, the deal does not include royalties from theatrical productions like the “MJ” Broadway musical. John Branca and John McClain, the co-executors of Jackson’s estate, are expected to retain their roles, ensuring continuity in managing Jackson’s musical assets.
Jackson’s catalogue, notably his bestselling “Thriller” album, remains one of the most lucrative in history. While financial details of the recent deal were undisclosed, it echoes Sony’s past major acquisitions in the music industry, positioning them as a powerhouse in preserving and promoting musical legacies for years to come.