The estate of Michael Jackson is closing in on a deal that, if finalized, would see 50% of the singer’s publishing and recorded-music revenues sold in the $800-900 million range. Variety reports that Sony and an unnamed financial partner are seeking to acquire half of Jackson’s catalog, as well as the rights to MJ: The Musical and the upcoming biopic Michael.
The deal has the potential to be the biggest catalog acquisition yet, as major artists continue to part with their publishing rights and masters. In January, Justin Bieber sold 100 percent of his catalog to Hipgnosis Songs Fund, an investment firm, for $200 million. Dr. Dre and Neil Young have also made hundreds of millions in dollars with sales of their catalogs, and Bruce Springsteen netted one of music’s largest paydays in 2021 with $550 million for his career’s work.