Sony Buys Michael Jackson Music Library For $750 Million
Sony Music has agreed to pay Michael Jackson's estate $750 million for the remaining stake in his music catalog. The deal was made public on Monday.
The agreement for Jackson's half-share of the Sony/ATV Music Publishing catalog will give the company sole ownership of works by The Beatles, Bob Dylan and other artists like Eminem and Taylor Swift.
The posthumous deal is a huge windfall for Jackson's estate, which has now erased the King of Pop's massive debts.
Michael Jackson's estate benefits his mother and his three children, Prince, Paris and Blanket.