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According to Variety, the Michael Jackson estate might sell half of the late artist’s music catalog for about $800 to $900 million. While full details are still under wraps, sources with information told the publication that Sony is negotiating to acquire 50% of the estate, including Jackson’s publishing, recorded-music revenues, the “MJ: The Musical” Broadway show, and the upcoming biopic “Michael.”
If Sony and the Michael Jackson estate close the deal, this might become the biggest purchase to date in music catalog market.
Sony has experience making big purchases as they secured Bruce Springsteen’s publishing and recorded-music catalogs for around $600 million.
The outlet informed that Jackson’s recorded-music catalog is among the most lucrative in entertainment history.
As HOLA! USA previously reported fans of the King of Pop will have the opportunity to watch the story of Michael Jackson on the big screen. The director for the film Antoine Fuqua has made the official casting announcement, revealing that it will be Michael’s nephew Jaafar Jackson, who will be portraying him in the upcoming production.
The 26-year-old actor seems to be the perfect choice to star in “Michael,” as he has all the skills necessary to play the icon, including singing and dancing. Jaafar is the son of Jermaine Jackson, brother of Michael and member of The Jackson 5.