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Sony to Buy Out Michael Jackson Estate's Half of Sony/ATV Publishing
14 March 2016
10.57pm
Bullion
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[QUOTE]
Sony has agreed to a deal with the Michael Jackson estate to buy out the late King of Pop's half of their Sony/ATV music publishing company. The deal, which comes 21 years after Jackson and Sony formed the joint venture, is expected to net the Jackson estate $750 million. The agreement also allows the Jackson estate to retain 10 percent of EMI Music Publishing as well as their stake in Mijac Music, which owns to rights to Jackson's own works, and Jackson's master recordings, Billboard reports.
 
"This transaction further allows us to continue our efforts of maximizing the value of Michael's Estate for the benefit of his children," Jackson estate co-executors John Branca and John McClain said in a statement. "It also further validates Michael's foresight and genius in investing in music publishing. His ATV catalogue, purchased in 1985 for a net acquisition cost of $41.5 million, was the cornerstone of the joint venture and, as evidenced by the value of this transaction, is considered one of the smartest investments in music history."
 
 
Jackson first purchased ATV Music Publishing, which owned the publishing rights to the majority of the Beatles' music, in 1985 for $41.5 million at the insistence of Paul McCartney . Eleven years later, the singer merged his stake in ATV with Sony Music to form Sony ATV; the conglomerate then added EMI Music Publishing to their staple in 2012.
 
According to Fortune, Sony exercised a right in the Sony/ATV contract in September 2015 that allowed one partner to buy out the other. The following month, the Wall Street Journal reported that Sony sought buyers for their half of the publishing company, with a $2 billion valuation put on their portion of Sony/ATV Music.
 
In a statement, Sony CEO Michael Lynton said, "This acquisition will enable Sony to more quickly adapt to changes in the music publishing business, while at the same time continuing to be an unparalleled leader in the industry and a treasured home for artists and writers." Lynton added that the agreement should be completed by March 31st.
 
The $750 million sale of Jackson's half of Sony/ATV Music will go in part to finish paying off the massive $500 million debt the singer had accrued at the time of his death in 2009. After taxes, fees and expenses, the remaining money will be put into a trust for Jackson's three children.
 

Read more: http://www.rollingstone.com/music/news/sony-to-buy-out-michael-jackson-estates-half-of-sony-atv-publishing-20160314#ixzz42wM0J3dD 
Follow us: @rollingstone on Twitter | RollingStone on Facebook

14 March 2016
11.34pm
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Ahhh Girl
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Wha....

Jackson first purchased ATV Music Publishing, which owned the publishing rights to the majority of the Beatles' music, in 1985 for $41.5 million at the insistence of Paul McCartney .

Again, wha...?? That's not the way I've heard how that went down.

14 March 2016
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Ahhh Girl said
Wha....

Jackson first purchased ATV Music Publishing, which owned the publishing rights to the majority of the Beatles' music, in 1985 for $41.5 million at the insistence of Paul McCartney .

Again, wha...?? That's not the way I've heard how that went down.

That sentence stood out to me too, definitely seems like a misnomer 

15 March 2016
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Necko
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I think they just phrased it in a really bad way. Paul inspired M.J. to buy another artist's catalog, just like how Paul bought Buddy Holly's catalog, but Paul didn't specifically urge M.J. to buy the Beatles' catalog. 

I'm Necko.  I'm like Ringo except I wear necklaces.

I'm also ewe2 on weekends.

Most likely to post things that make you go hmm... 2015, 2016, 2017. 

15 March 2016
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Ahhh Girl
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Yeah, they put the facts through a blender. Yes, the end product contains the same substances you put in, but they don't look anywhere near the same.

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15 March 2016
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It looks like they will only have the publishing rights to The Beatles work for a few more years . . I saw this article recently, do any of you know when the publishing rights will revert back to Paul and John's estate?

Sir Paul McCartney is set to win back the rights to The Beatles songs.

The veteran rocker, 71, lost ownership of the publishing rights to the songs he co-wrote with late bandmate John Lennon .

Sir Paul was furious when his former friend Michael Jackson outbid him to buy the Associated Television Corporation (ATV)'s back catalogue, which includes The Beatles' tracks, in 1985.

 
Getting back whatImage Enlarger

Getting back what's rightfully his: Sir Paul McCartney , pictured in San Francisco on August 9, is set to win back The Beatles back catalogue

The King Of Pop paid a reported $47.5million for between 160 and 260 Beatles classics, including Yesterday and Let It Be .

However, the 1976 US Copyright Act means Sir Paul will now be able the claim back the titles once more in five years, according to The Sun.

A source told the paper: 'Paul's been fuming for decades. It's as much personal as business. Now he'll get back what's rightfully his.'

The Act means songs written prior to 1978 turn into the property of the songwriter after 56 years.

 
Payday: Sir Paul will be able to receive royalties from Sgt PepperImage Enlarger
Payday: Sir Paul will be able to receive royalties from Sgt PepperImage Enlarger
 

Payday: Sir Paul will be able to receive royalties from Sgt Pepper 's Lonely Hearts Club Band and Abbey Road albums

Sir Paul and Michael, who recorded several songs together in the '80s, including The Girl Is Mine, famously fell out over the purchase.

No doubt Sir Paul, who has a reported £680 million fortune already, will be looking forward to receiving royalties and licensing money for tracks he wrote in the '60s and 1970.

Years ago, he complained at having to pay Michael royalties every time he wanted to perform a Beatles song: 'The annoying thing is I have to pay to play some of my own songs. Each time I want to sing Hey Jude I have to pay.'

While it is unknown how much the back catalogue would be worth nowadays, in 2005, Sony paid Michael $95million for 50 per cent of the rights.

 
Feud: Sir Paul, pictured in 1983 with late wife Linda, famously fell out with Michael Jackson over the purchase of the rightsImage Enlarger

Feud: Sir Paul, pictured in 1983 with late wife Linda, famously fell out with Michael Jackson over the purchase of the rights

When Jackson died in 2009, Sir Paul denied reports he was 'devastated' not to have been left the rights by the tragic singer in his will.

He said at the time: 'The report is that I am devastated to find that he didn't leave the songs to me. This is completely untrue. I had not thought for one minute that the original report [about the will] was true, and therefore the report that I'm devastated is also totally false.'

In an interview after Michael's death, Sir Paul admitted his resentment against the singer had faded somewhat: 'I got off that years ago. It was something for a while I was very keen on and you can see why, naturally... [but these] sort of things can eat you up.

'I feel privileged to have hung out and worked with Michael. He was a massively talented boy man with a gentle soul. His music will be remembered forever and my memories of our time together will be happy ones.'

 
Talent: Sir Paul and Ringo Star with their late bandmates John Lennon and George Harrison in 1967Image Enlarger

Read more: http://www.dailymail.co.uk/tvshowbiz/article-2394325/Sir-Paul-McCartney-set-win-rights-Beatles-catalogue.html#ixzz42xI9Kgll
Follow us: @MailOnline on Twitter | DailyMail on Facebook

http://www.dailymail.co.uk/tvshowbiz/article-2394325/Sir-Paul-McCartney-set-win-rights-Beatles-catalogue.html

15 March 2016
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Bongo
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Don.W said
It looks like they will only have the publishing rights to The Beatles work for a few more years . . I saw this article recently, do any of you know when the publishing rights will revert back to Paul and John's estate?

Heard it too, but don't know when.... a-hard-days-night-paul-7

http://i276.photobucket.com/albums/kk38/rickdelsie/The%20Beatles/parlunread_zps28270d9d.gif BEATLES Music gives me Eargasms!  apple01

15 March 2016
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Don.W said
It looks like they will only have the publishing rights to The Beatles work for a few more years . . I saw this article recently, do any of you know when the publishing rights will revert back to Paul and John's estate?

Sir Paul McCartney is set to win back the rights to The Beatles songs.

The veteran rocker, 71, lost ownership of the publishing rights to the songs he co-wrote with late bandmate John Lennon .

 

<And then came the snippage>

It can't have been too recent an article, as Sir Paul is 73. a-hard-days-night-paul-11 

Either that or 1) they've got his age wrong or 2) they're actually talking about Faul, and he's two years younger. a-hard-days-night-john-1

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15 March 2016
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Why did Michael Jackson make it his mission to beat Paul to the chase all those years ago? Especially since they were friends. If my idol/friend wanted to get their songs back after many years and I had the money, I'd buy them and hand over the rights back to Paul. It sort of makes me angry.

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15 March 2016
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Paul and Yoko took an age to get around to actually buying the catalogue and Michael stepped in and took advantage. Michael looks the bad guy but Paul and Yoko should have gotten their act together and made a firm bid instead of trying to work out what they were doing. Its business.

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15 March 2016
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meanmistermustard said
Paul and Yoko took an age to get around to actually buying the catalogue and Michael stepped in and took advantage. Michael looks the bad guy but Paul and Yoko should have gotten their act together and made a firm bid instead of trying to work out what they were doing. Its business.

 

I think he could of bought it himself but he was worried about the perception of how it would look if he had the rights to both his and John's songs, he's probably right too. The public is very fickle and could see fans calling for him to give half of the rights to Yoko or John's kids. Apparently the story is he went to Yoko and mentioned that they would both have to put up $30 million and she insisted they could get it for cheaper. It would've been nice to see Paul have the rights to his songs though. He's already got more money than he'll ever need, I believe he's close to a billionaire but if he had the rights to those songs all of those years it would be nice for songwriters to be able to have such a pristine example of financial success to look up to. He's such a great songwriter that I feel like he deserves the fruits of his labor 

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15 March 2016
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Don.W said
It looks like they will only have the publishing rights to The Beatles work for a few more years . . I saw this article recently, do any of you know when the publishing rights will revert back to Paul and John's estate?

Sir Paul McCartney is set to win back the rights to The Beatles songs.

The veteran rocker, 71, lost ownership of the publishing rights to the songs he co-wrote with late bandmate John Lennon .

Sir Paul was furious when his former friend Michael Jackson outbid him to buy the Associated Television Corporation (ATV)'s back catalogue, which includes The Beatles' tracks, in 1985.

 
Getting back whatImage Enlarger

Getting back what's rightfully his: Sir Paul McCartney , pictured in San Francisco on August 9, is set to win back The Beatles back catalogue

The King Of Pop paid a reported $47.5million for between 160 and 260 Beatles classics, including Yesterday and Let It Be .

However, the 1976 US Copyright Act means Sir Paul will now be able the claim back the titles once more in five years, according to The Sun.

A source told the paper: 'Paul's been fuming for decades. It's as much personal as business. Now he'll get back what's rightfully his.'

The Act means songs written prior to 1978 turn into the property of the songwriter after 56 years.

 
Payday: Sir Paul will be able to receive royalties from Sgt PepperImage Enlarger
Payday: Sir Paul will be able to receive royalties from Sgt PepperImage Enlarger
 

Payday: Sir Paul will be able to receive royalties from Sgt Pepper 's Lonely Hearts Club Band and Abbey Road albums

Sir Paul and Michael, who recorded several songs together in the '80s, including The Girl Is Mine, famously fell out over the purchase.

No doubt Sir Paul, who has a reported £680 million fortune already, will be looking forward to receiving royalties and licensing money for tracks he wrote in the '60s and 1970.

Years ago, he complained at having to pay Michael royalties every time he wanted to perform a Beatles song: 'The annoying thing is I have to pay to play some of my own songs. Each time I want to sing Hey Jude I have to pay.'

While it is unknown how much the back catalogue would be worth nowadays, in 2005, Sony paid Michael $95million for 50 per cent of the rights.

 
Feud: Sir Paul, pictured in 1983 with late wife Linda, famously fell out with Michael Jackson over the purchase of the rightsImage Enlarger

Feud: Sir Paul, pictured in 1983 with late wife Linda, famously fell out with Michael Jackson over the purchase of the rights

When Jackson died in 2009, Sir Paul denied reports he was 'devastated' not to have been left the rights by the tragic singer in his will.

He said at the time: 'The report is that I am devastated to find that he didn't leave the songs to me. This is completely untrue. I had not thought for one minute that the original report [about the will] was true, and therefore the report that I'm devastated is also totally false.'

In an interview after Michael's death, Sir Paul admitted his resentment against the singer had faded somewhat: 'I got off that years ago. It was something for a while I was very keen on and you can see why, naturally... [but these] sort of things can eat you up.

'I feel privileged to have hung out and worked with Michael. He was a massively talented boy man with a gentle soul. His music will be remembered forever and my memories of our time together will be happy ones.'

http://www.dailymail.co.uk/tvshowbiz/article-2394325/Sir-Paul-McCartney-set-win-rights-Beatles-catalogue.html

 

"He was a massively talented boy man." 

 

LOLOL

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20 April 2016
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The deal has been finalised.

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20 April 2016
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With the US copyrights reverting to the songwriter perhaps Paul could use that as a bargaining chip to buy out the rights of The Beatles' publishing all-together. At this point though it would be a long-term investment that would benefit his kids. It's really too bad he didn't get them in the 80s 

20 April 2016
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I don't see how that would work, @Bullion. What would be in it for Sony/ATV to go, "Well, we're losing the US publishing, might as well offload the rest of the world as well..." It could easily be argued that the publishing for the rest of the world is much more profitable than the US publishing, given the size of emerging markets like China.

Nor would I want, to be honest, Paul alone (and his heirs following his death) to control The Beatles publishing. Were, maybe under the umbrella of Apple, Paul and the estate of John Lennon (with maybe a small share for the estate of George Harrison as they also published his songs before Harrisongs became active in 1968), they to go for attempting to regain the group's publishing, I would be for that.

But I would not Paul to solely control their publishing; no more than I would want the estates of John Lennon or George Harrison , or Ringo, to have sole control.

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21 April 2016
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Ron Nasty said
I don't see how that would work, @Bullion. What would be in it for Sony/ATV to go, "Well, we're losing the US publishing, might as well offload the rest of the world as well..." It could easily be argued that the publishing for the rest of the world is much more profitable than the US publishing, given the size of emerging markets like China.

Nor would I want, to be honest, Paul alone (and his heirs following his death) to control The Beatles publishing. Were, maybe under the umbrella of Apple, Paul and the estate of John Lennon (with maybe a small share for the estate of George Harrison as they also published his songs before Harrisongs became active in 1968), they to go for attempting to regain the group's publishing, I would be for that.

But I would not Paul to solely control their publishing; no more than I would want the estates of John Lennon or George Harrison , or Ringo, to have sole control.

With the US rights expiring they may be willing to take a lower offer for the whole thing since a large portion of the cash flow will be lost once the rights revert to him. They already have John's portion guaranteed for awhile longer but he more easily negotiate for his half. Perhaps he could do something similar to what Prince did with Warner Bros where he agreed to do an album for Sony, and if they market it right it would be a mutually beneficial endeavor for him. He could also agree to let them administrate the catalog for a certain term, so they'd be making something in the range of 10%-25% rather than a regular publishing deal which is 50% - but from what it seems like Paul and John lost 100% of their publishing, including their writing share. There's various incentives that could be thrown in. Perhaps even signing with Sony/ATV to administrate the MPL Publishing catalog in certain territories. That would definitely be a sweet offer 

Including the US - 10%-25% of the whole pie vs. 100% of a smaller pie

 

The US is still the number one music market. With the right foresight you can project growth in the markets of India and China - although I'm not sure if there's any censorship policies that could provoke the Chinese government to curtail The Beatles popularity there

21 April 2016
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Don't the Beatles own the music they made under Apple? I always thought they did.

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