Sony Group has entered into a groundbreaking agreement to acquire a 50% stake in the music catalogue of the late pop icon Michael Jackson worth over $1.2 billion.
The deal indicates that the valuation of these music assets surpasses $1.2 billion, with some estimates suggesting a figure upwards of $1.5 billion.
Regardless, the Sony music group deal is valued at at least $600 million, and stands as the largest-ever acquisition of its kind, Billboard first reported.
Amidst this monumental acquisition, there are also reports of an upcoming biographical film on Michael Jackson, titled “Michael,” slated for release in the coming year.
As Sony Music takes the reins of this musical legacy, the industry awaits the impact of this record-breaking deal on the future of Michael Jackson’s musical heritage.
The acquisition does not encompass royalties from theatrical productions such as the “MJ” Broadway musical.
The co-executors of Jackson’s estate, John Branca and John McClain, are expected to retain their roles. Sony’s acquisition of Jackson’s recorded music catalog, which spans his solo career and the Jackson 5 era, marks a continuation of their historic collaboration.
Jackson’s catalogue, notably the bestselling “Thriller” album, remains one of the most lucrative in history, with this deal reinforcing the enduring financial significance of his musical legacy.
While financial details of the recent deal were undisclosed, it echoes Sony’s past major acquisitions in the music industry.
