Tuesday, 15 March 2016
Sony buys out Jackson Estate to take control at Sony/ATV
Sony is buying the 50% of Sony/ATV Music Publishing which it doesn't currently own from the Jackson Estate for the reported sum of $750m. Reports say that the Estate will retain its 10% stake in EMI Music Publishing. The sale completes the process that began in September 2015 when Sony exercised a right to buy that has existed since the joint venture was formed by Michael Jackson and Sony in 1995. The transaction is still subject to regulatory approvals. The Jackson Estate will also retain its interest in a number of other music assets, including all of Michael Jackson's master recordings as well as Mijac Music, the publishing company that owns all of the songs written by Michael Jackson.