Sony Music has landed a massive deal, acquiring half of Michael Jackson’s (MJ) music rights for a whopping $1.2 billion.
This landmark move makes it the biggest music artist acquisition ever, with Sony paying at least $600 million.
The deal goes beyond just MJ’s own hits. It also includes rights to songs by legendary artists like Sly & the Family Stone and Ray Charles, but excludes the “MJ” Broadway musical. Primary Wave keeps a 10% stake in Jackson’s publishing.
“Michael Jackson’s estate executors, John Branca and John McClain, are expected to remain in charge. This deal deepens Sony’s historic connection with Jackson, having been home to his music throughout his career,” reports state.
MJ’s music remains a goldmine. His iconic “Thriller” album is one of the best-selling ever, and his catalog has only grown more valuable in recent years. Negotiations started at $800-$900 million, but the final deal may have included additional assets, boosting the price.
This isn’t Sony’s first Jackson deal. In 2016, they bought the Jackson estate’s share of their joint venture, Sony/ATV Music Publishing, for $750 million.
In 2018, they acquired the estate’s stake in EMI Music Publishing for $287.5 million.