Yes, the King of Pop, Michael Jackson, is still making million dollar deals even in his death. The pop icon has agreed to sell it remaining music catalog to Sony Corp. for a whopping $750 million. The deal was announced on Monday that Sony/ATV Music Publishing will receive total ownership of musical works by Bob Dylan, The Beatles, Eminem, Taylor Swift and others. However, the sale doesn’t include rights to Michael Jackson’s master recordings or written songs, and the estate will include also retain a stake in EMI Publishing, Inc. The beneficiaries of Michael Jackson’s estate is his mother, Catherine, and three children, Prince, Paris, and Blanket. “This agreement further demonstrates Sony’s commitment to the entertainment businesses and our firm belief that these businesses will continue to contribute to our success for years to come,” Sony Corp. president and CEO Kazuo Hirai wrote in a statement. “This transaction further allows us to continue our efforts of maximizing the value of Michael’s Estate for the benefit of his children,” the co-executors of Jackson’s estate, attorney John Branca and music executive John McClain, wrote in a statement. “It also further validates Michael’s foresight and genius in investing in music publishing.” (Source: USA Today) Jackson purchased the catalog in 1985 for $41.5 million, and he later merged it with Sony.
