It has been reported that the estate of legendary pop singer Michael Jackson is currently in the process of selling half of his music catalogue in a prospective deal nearing $800 million-$900 million.
While details are unclear, sources report that Sony along with a financial partner is negotiating to acquire 50 percent of the estate’s interest in Jackson’s publishing, recorded-music revenues, the “MJ: The Musical” Broadway show and the upcoming biopic “Michael.”
If the deal goes through, it would mark the biggest catalog deal to date. Sony previously acquired Bruce Springsteen’s publishing and recorded-music catalogs for around $600 million.
Another well known singer, Justin Bieber, sold his music rights to Hipgnosis Songs Capital for a reported $200 million. Rapper and producer Dr. Dre is also apparently entertaining a sale of his music income streams and assets in a deal valued at over $200 million.
At this time, reps for the Jackson estate, co-executors John Branca and John McClain, Sony, and Primary Wave have yet to make a statement on the speculations.