Michael Jackson's estate sells stake in Sony/ATV music catalogue for $750M
http://www.cbc.ca/news/arts/sony-michael-jackson-music-catalog-1.3491828
Michael Jackson's estate has agreed to sell its remaining stake in a lucrative music catalogue to Sony Corp. for $750 million US, the entities announced Monday.
The agreement for Jackson's half-share of the Sony/ATV Music Publishing catalogue will give the company sole ownership of works by The Beatles, Bob Dylan and other hit making musicians, including Eminem and Taylor Swift.
The deal is another posthumous blockbuster deal for Jackson, whose estate has erased the singer's massive debts through a mixture of new music and movie ventures and re-releases of the singer's most popular music.
Jackson's estate benefits his mother and three children, known as Prince, Paris and Blanket.
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I notice that Mama Jackson, an active Jehovah's Witness, receives part of the benefit of this estate sale. I was curious as to how much she would get so I looked up what her share of the estate was. She gets 40 percent of Michael's estate.
Jackson's 23-page document shows that the singer left 40 per cent of his $300million estate to his children, 40 per cent to his mother Katherine and 20 per cent to charity.
A 40 percent share of 750 million dollars is 300 million. Woot toot!
I wonder if Mama Jackson is going to put her ice cream money into the Watchtower coffers and donate at the very least, 10 percent of her treat money to them. Which would be a 30 million dollar windfall for Mama's favorite charity. Win win - a tax write off.
(Simon, we could really do with a money emoticon...dollar signs *insert here*...lots of them)
