[ad_1]
Michael Jackson‘s estate is nearing a sale of his iconic music catalog in the $800 to $900million range according to a new report.
The late King of Pop’s career work will be sold for just under a billion dollars according to three sources for Variety on Tuesday.
Their insiders claim that Sony and a possible financial partner are negotiating to acquire 50percent of the estate’s interest in Jackson’s publishing and recorded music revenues.
The publication also reports that other alleged assets included are the MJ: The Musical Broadway show and upcoming biopic Michael though details remain unclear.
The potential deal would be the biggest deal to date in the booming music catalog market as Justin Bieber just sold his for $200million last month.
Big money: Michael Jackson’s estate is nearing a sale of his iconic music catalog in the $800 to $900million range according to a new report from Variety, he is pictured in Santa Maria back in 2005
An insider also told Variety that Primary Wave Music already owns a stake in Jackson’s publishing catalog.
Jackson – who was dubbed ‘The King Of Pop’ – is one of the most successful music artists of all-time.
He has estimated sales of over 400million records worldwide in addition to having 13 Billboard Hot 100 number-one singles which is the third highest of any artist.
Jackson was also the first artist to have a top ten-single in the Billboard Hot 100 in five different decades.
If that already wasn’t enough, he is also regarded as the highest-selling individual music artist of all time worldwide by the Recording Industry Association of America (RIAA).
Variety notes that Sony has been involved in some of the biggest previous known catalog deals including acquiring Bruce Springsteen’s publishing and recorded-music catalogs for a combined price of $600million.
Insiders also say that the company paid $150-200million for Bob Dylan’s rights to his recorded music catalog.
Sony and predecessor CBS were Jackson’s recorded-music catalog throughout his entire solo career in addition to the latter years with his family group the Jackson 5.
Wow: Their insiders claim that Sony and a possible financial partner are negotiating to acquire 50percent of the estate’s interest in Jackson’s publishing and recorded music revenues, he is pictured in 1992
Sensation: He has estimated sales of over 400million records worldwide in addition to having 13 Billboard Hot 100 number-one singles which is the third highest of any artist, the cover for 1982 album Thriller is shown
Meanwhile, Jackson’s nephew Jaafar Jackson is set to play the King of Pop in an upcoming biopic called Michael, according to Deadline.
Jaafar is the son of Jermaine Jackson, brother of Michael and a member of The Jackson 5.
The 26-year-old has been singing and dancing since the age of 12, following the footsteps of his famous family.
Ridiculous: If that already wasn’t enough, he is also regarded as the highest-selling individual music artist of all time worldwide by the Recording Industry Association of America (RIAA),the cover for his 1987 album Bad is shown
Michael died in 2009 at age 50, due to a cocktail of sedatives leading to a cardiac arrest.
The biopic, which will be directed by Antoine Fuqua for Lionsgate, will be produced by GK Films and also John Branca and John McClain, who are co-executors of Michael Jackson’s estate.
Jaafar shared his gratitude at getting the role via his Twitter account, along with a black and white photo of himself dressed like his famous late uncle.
Keeping it in the family: Michael Jackson’s nephew Jaafar Jackson is set to play the King of Pop in an upcoming biopic, according to Deadline
The Thriller singer has also been the focus of controversy for decades and even more so in recent years.
According to Deadline the new biopic will cover the span of Jackson’s life from his childhood with The Jackson Five right through to the civil and criminal lawsuits before his death at the age of 50 in 2009.
Joe Drake, chair of the Lionsgate Motion Picture Group, said in a statement, ‘I am very excited that Lionsgate will be part of this epic film, and thrilled to be working with Graham, who has proven success in telling iconic life stories, from Bohemian Rhapsody to Ali; when combined with John, we couldn’t be in more extraordinary hands.’
With the Jackson family’s involvement in the project, it’s unclear how the film will include the allegations.
Rising star: Sony and predecessor CBS were Jackson’s recorded-music catalog throughout his entire solo career in addition to the latter years with his family group the Jackson 5, his 1979 album Off The Wall is shown
[ad_2]
Source link
