If you haven't heard yet Sony is buying Michael Jacksons stake in its music catalogue for $750 million dollars. The money will be paid to Michael Jackson's estate. $750 million is a lot of money but not enough. We're talking about a catalogue that includes Bob Dylan and The Beatles amongst other artist. Sony will easily make billions upon billions off of this catalogue.
Another thing that doesn't sound accurate is the notion that Michael Jackson was in deep debt. According to reports his estate was about $500 millions dollars in debt. But he had tons and tons of money coming in. According to Billboard.com , the estate ranked in hundreds of million of dollars from his last movie This is it, a new posthumous record deal with Sony, record sales and multiple tours that used his name and his music. Money also continues to roll in thanks to the strength of the Mijac Music catalog, which holds the rights to MJ's recordings and masters, as well as music by Sly and the Family Stone, Ray Charles, Presley and Aretha Franklin. He has sold more albums than any other artist on the planet in the last seven years. He also owned his masters.
So even after all of what is listed above Michael Jackson was not only still in debt, but deep debt. He was $500 million in debt. I just don't believe it. I think this is Sony (and the powers that be) trying to get ahold of that music catalogue and close the door on the feud they've been having with Michael Jackson since he first purchased it in 1985. Companies like Sony and others don't want artist like Michael Jackson having that much control. After purchasing the catalogue in 1985, Jackson gave Little Richard back his publishing. I'm sure Sony hated this. He basically gave an artist back his power. What if all the super rich artist began to buy back publishing and returned it to the artist or songwriter ? That'll fuckem up!
The powers that be don't want to ever lose that power. Having the catelogue is financial power. They'll do anything to make sure they hold on to it. That's why they terrorized him. That's why they had him killed. That's why they're claiming he had this random debt. I think it was all a lie. I know MJ had issues, but I still hate that he went out the way he did. Having this power ended up costing him this life. Is all the fame and fortune worth it if you have to be harassed and terrorized all your life and then die an early death?
What do you think?