Many musicians are making million-dollar deals in exchange for the rights to their music catalogs, and it appears Michael Jackson’s estate is trying to do the same.
According to Variety, three separate sources confirmed to the publication that Sony and another financial partner are finalizing a deal that would give them a 50% stake in Michael’s music catalog. This would include rights to his published music, the MJ: The Musical Broadway show, the upcoming biopic Michael, and other assets.
While the deal isn’t yet finalized, it’s reportedly valued between $800 million to $900 million, which could make it the most expensive music catalog sale in history.
This wouldn’t be the first time the rights to Michael’s music were sold off. Primary Wave Music reportedly owns an undisclosed stake, though the details haven’t been publicized.
Michael Jackson passed away in 2009 from cardiac arrest. Some reports say he had a net worth of $100 million at the time of his death.
However, his estate has continued to make money through his likeness, including licensed merchandise, documentaries, and publishing rights to his music.
In the last year alone, multiple artists finalized deals to sell their publishing rights. It was reported in late December that Justin Bieber exchanged his music catalog for $200 million to Hipgnosis Songs Capital –the biggest acquisition in the company’s history.
This allowed the pop start to nearly double his net worth. Justin was reportedly worth $285 million prior to the deal. Justin Timberlake similarly sold his publishing rights for $100 million earlier in the year.
In November, it was reported that Iggy Azalea sold her music catalogs for eight-figures. She defended her decision on Twitter.
“ I sold a portion of my catalog to who I wanted, for an amount that means I don’t have to work another day in my life,” the rapper wrote.
Iggy is reportedly stepping away from music for the time being to focus on other projects, which likely includes her record label, Bad Dreams, that she founded several years ago.
One artist who’s reportedly negotiating a music catalog sale is Dr. Dre. In January, reports said that he was finalizing two separate deals, valued at $200 million altogether.
Currently, the record for the most expensive music rights acquisition belongs to Bruce Springsteen, who sold his catalog for $500 million in 2021. However, should Michael Jackson’s estate go through with the deal, it will likely surpass the record by hundreds of millions.
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